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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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.
Downloads:
Detrended Price Oscillator for MetaTrader 4 in .zip
Detrended Price Oscillator for MetaTrader 4 in .mq4
Detrended Price Oscillator for MetaTrader 5 in .zip
Detrended Price Oscillator for MetaTrader 5 in .mq5
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