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 Metatrader 4 indicator.

Configurable Indicator Options

MA_Period, BarsToCount

GBP/USD Daily Chart Example

detrended price oscillator-mt4

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