Ultimate Oscillator (UO) - Built-in Indicator Guide

Plots the Ultimate Oscillator (UO) as a red line using fast, middle, and slow period lengths (defaults 7, 14, 28).

Overview

This indicator displays the Ultimate Oscillator as a single red line. It exposes three period settings — fast, middle, and slow — through the settings UI and passes them directly to the platform’s built-in Uo algorithm. The script is a thin wrapper around that algorithm rather than a re-implementation of the oscillator math.

The output is produced by calling Uo.new(fast_len, middle_len, slow_len)[0] on every bar and returning that current value for plotting. The chart shows only the oscillator line; no extra levels, bands, or markers are added by this source code.

How it works

1. Main is called on each bar and receives the configured fast_len, middle_len, and slow_len values.
2. Uo.new(fast_len, middle_len, slow_len) creates or updates the Ultimate Oscillator algorithm instance.
3. The .new() call returns a series, and [0] selects the value for the current bar.
4. That value is returned from Main and drawn as a red line by the @plot.line decorator.
5. The Uo algorithm keeps its own internal state from bar to bar, producing a continuous indicator series.

Parameters

Code walkthrough

Indicator and parameter registration

Lines 6-9 of Ultimate Oscillator.indie5:

@indicator('UO', format=format.PRICE)  # Ultimate Oscillator
@param.int('fast_len', default=7, min=1, title='Fast Length')
@param.int('middle_len', default=14, min=1, title='Middle Length')
@param.int('slow_len', default=28, min=1, title='Slow Length')

The @indicator decorator registers the script with the display name UO and PRICE formatting. The three @param.int decorators create numeric input fields for fast, middle, and slow lengths, each with a default and a minimum value of 1.

Plot configuration

Lines 10-10 of Ultimate Oscillator.indie5:

@plot.line(color=color.RED)

This decorator declares the visual output as a red line. Because the script contains a single plot decorator and Main returns one value, exactly one line is drawn on the chart.

Per-bar computation

Lines 11-12 of Ultimate Oscillator.indie5:

def Main(self, fast_len, middle_len, slow_len):
    return Uo.new(fast_len, middle_len, slow_len)[0]

Main takes the three period parameters, calls Uo.new(...) to obtain the algorithm’s output series, and reads index [0] for the current bar. Calling .new() each bar lets the algorithm update its internal state before the current value is returned for plotting.

Reading the chart

The only visual output is a single red line named UO. The vertical position of the line on each bar equals the value returned from Uo.new(fast_len, middle_len, slow_len)[0]. This script draws no overbought, oversold, or midpoint levels, so readings must be compared against the visible range of the indicator pane. A rising red line means the oscillator value is increasing; a falling line means the oscillator value is decreasing.

Implementation notes

• The actual oscillator calculation is encapsulated in Uo from indie.algorithms; this script only supplies parameters and selects the current series value.
• Uo.new(...)[0] follows the Indie convention that .new() algorithms return a series, with [0] representing the current bar.
• All three period parameters have min=1, so the UI prevents zero or negative lookback lengths.
• No extra chart objects such as levels, fills, or markers are created by this code.

FAQ

What do the three length parameters control?

They are passed unchanged as fast_len, middle_len, and slow_len to Uo.new(...). Defaults are 7, 14, and 28, and the settings UI enforces a minimum of 1 for each.

Why does the code call Uo.new on every bar instead of once?

In Indie Script, .new() is the standard way to create or update an algorithm instance. Calling it each bar maintains the algorithm’s internal state and returns a series; [0] selects the current bar’s value for plotting.

Can I change the color of the plotted line?

Yes, change color.RED in the @plot.line decorator to another supported color. The script still produces a single line in the new color.

Full source code

Indie Script v5, the built-in indicator as shipped with TakeProfit. Add it from the indicators menu or copy the code into the platform’s script editor.

# indie:lang_version = 5
from indie import indicator, format, param, plot, color
from indie.algorithms import Uo


@indicator('UO', format=format.PRICE)  # Ultimate Oscillator
@param.int('fast_len', default=7, min=1, title='Fast Length')
@param.int('middle_len', default=14, min=1, title='Middle Length')
@param.int('slow_len', default=28, min=1, title='Slow Length')
@plot.line(color=color.RED)
def Main(self, fast_len, middle_len, slow_len):
    return Uo.new(fast_len, middle_len, slow_len)[0]