I use the Meguiar's Velocity Mold Release products for heavy oxidation on boats.
Meguiar's Velocity MV80 has the cutting power almost equivalent of about 800grit sand paper.
Meguiar's Velocity MV81 is like the cutting power of 1500 grit, that breaks down to a fine polish as it's used.
It's used in the fiberglass mold productions, to make a glass-smooth finish.
I use MV80 with a W4000 wool pad, for severe oxidation.
MV81 with a W4000 wool pad for heavy oxidation.
MV81 with a W8000 foam polishing pad for mild oxidation/general polishing. I'll usually use this after the MV80/W4000 combo.
It is aggressive stuff. And it will eat through the paint stripes if you're not careful. But to make a gelcoat look brand new, I haven't found anything better. Not that there isn't something better out there, but I've used a lot of different compounds, and those are the best I've found.
Here's a link for the MV80:
Meguiar's Velocity 80 Speed Cut Mold Compound Gallon - SKU# MV8001
And the MV81:
Meguiar's Velocity 81 Mold Compound Gallon - SKU# MV8101
They only come in gallon sizes, though.
Here's a before of some severe oxidation I had on a 65' Novatec yacht:
Here's an after, from the MV81 and wool pad:
And here's the profile shot, from using MV81 and a wool pad: