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Ultimate Strength Index

This indicator implements the Ultimate Strength Index (USI) indicator, introduced by John Ehlers in his article titled "Ultimate Strength Index (USI)" from the November 2024 edition of TASC's Traders' Tips. The USI is a modified version of Wilder's original Relative Strength Index (RSI) that incorporates Ehlers' UltimateSmoother lowpass filter to produce an output with significantly reduced lag.
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Manufacturer: nt8indicators
SKU: USI
Vendor: nt8Indicators
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Key Features of the Ultimate Strength Index (USI):

  1. Formula: The USI uses both price gains and losses, much like the RSI, but it incorporates a multi-period smoothing technique. It takes the following into account:

    • The difference between the current closing price and the previous closing price.
    • The magnitude of price changes over multiple periods (usually 14, but I personnaly use 112).

  2. Range: Like the RSI, the USI typically fluctuates between 1 and -1.

    • A value above 0 indicates an overbought market (potential sell signal).
    • A value below 0 suggests an oversold market (potential buy signal).
    • It can also be used to spot divergences that suggest potential trend changes.

  3. Advantages Over RSI: While the RSI is sensitive to price changes, the USI smooths out the price fluctuations further, offering a more robust measure of the strength of a trend, making it more reliable in detecting market turns and trend momentum shifts.

  4. Usage: Traders use the USI to:

    • Identify the strength of price trends.
    • Spot trend reversals by looking for overbought or oversold conditions.
    • Gauge potential buying or selling opportunities when price movements become extreme.
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Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

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