I'm trying to compare RightEdge with the backtester that I've been using. I'm not getting the same numbers for the Ultimate Oscillator. When using the default parameters (7, 14, 28 days), it seems to work. However, when changing the period lengths, the values don't seem right. I calculated the values myself in Excel, and I validated the numbers that my other backtester returns.
For example, when I plot the Ultimate Oscillator (5,10,20 day periods) for Alcoa (AA), RightEdge shows that the Ultimate Oscillator value for April 6, 2011 is 86.27. Other sources as well as my own calculation show that it should be 61.62.
There are also values on RightEdge's chart that are over 100 (March 24-25, 2011 for example). The Ultimate Oscillator can only be between 0 and 100.
I only downloaded this a few days ago, so I'm still figuring it out. Am I doing something wrong, or this a bug in the formula?
Can anyone help??? Thanks