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
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.