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.
Short- term bullish trend develops above 0.00 line.
Short-term bearish trend develops below 0.00 line.
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.
Configurable Indicator Options
GBP/USD Daily Chart Example
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.