This strategy is named "Long Reversal Strategy Based on Ultimate Oscillator". It uses the Ultimate Oscillator to judge overbought/oversold levels and enters counter-trend long trades when the indicator reaches oversold levels.

The Ultimate Oscillator incorporates price information across multiple periods to gauge market overbought/oversold conditions. When the indicator crosses below a low point, it signals an oversold market and hints at a possible price bounce.

The trading logic is:

1. When the Ultimate Oscillator crosses below a low level (such as 45), the market is oversold and long trades are considered.

2. Continue holding long positions until the indicator crosses above a middle level (such as 70) for taking profit.

3. Set a stop loss line so positions are stopped out if price breaches the line. If indicator shows bullish divergence, stop can be adjusted accordingly.

4. If indicator crosses below the low point again, adding to long positions can be considered.

The advantage of this strategy is capturing oversold bounce opportunities. But optimization of parameters is needed, and the lagging nature of the indicator calls for combining trend analysis. Stop loss and money management are also critical.

In conclusion, using indicators to determine reversal timing is common. But traders still need discretion and should not purely rely on any single indicator.