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.
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