Detrended Price Oscillator (MetaTrader indicator) | FREE Forex Trading Indicator

Detrended Price Oscillator (MetaTrader indicator) a price oscillator version based on the difference between the current price and the simple moving average shifted by (Period / 2) + 1 bars Unlike the stochastic oscillator, this indicator aims to show changes in the short-term trend (price waves inside the long-term trend). The indicator is displayed in a chart’s separate window. This Detrended Price Oscillator indicator is compatible with both the MT4 and MT5 platforms.

Input parameters:

MA_Period (default = 14) — the period of the simple moving average used in the indicator.
BarsToCount (default = 400) — for how many bars to calculate the indicator.

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Detrended Price Oscillator Indicator Example MetaTrader Chart

Significant trend changes are signaled by the cross of the indicator and the zero level. But because the indicator is lagging, predicting such crosses can be a better tactic. I wouldn’t call this indicator great for direct trading purposes but it still can be used as the short-term trend confirmation.