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Detrended Price Oscillator Metatrader 4 Indicator

The Detrended Price Oscillator is based on price and a simple moving average (SMA).

It can be used to identify oversold and overbought market conditions or to trade the short-term trend.

General Assumptions

Short- term bullish trend develops above 0.00 line.
Short-term bearish trend develops below 0.00 line.

Trading Signals

BUY: Wait for the oscillator to reach oversold indicator readings in an uptrend. Then confirm buy signals with complimentary indicators or tools.
SELL: Wait for the oscillator to reach overbought indicator readings in an downtrend. Then confirm sell signals with complimentary indicators or tools.

Download

Download the Detrended Price Oscillator.mq4 indicator.

Configurable Indicator Options

MA_Period, BarsToCount

GBP/USD Daily Chart Example

detrended price oscillator-mt4

How to install the Detrended Price Oscillator custom indicator in Metatrader 4?

  • Download the Detrended Price Oscillator.mq4 indicator to your computer.
  • Open your Metatrader 4 platform.
  • Open the data folder from the top menu.
  • Open the MQL4 folder.
  • Open the indicators folder.
  • Paste the indicator file in this folder.
  • Restart the trading platform.
  • Open any trading chart.
  • Attach the indicator to the chart.