You can now download the Detrended Price Oscillator for MT4 and MT5 for free on AtoZ Markets.
Detrended Price Oscillator is a trendless price oscillator. This version of a price oscillator is based on the difference between the current price and a simple moving average shifted by (Period / 2) + 1 bars back. Unlike stochastic, this indicator shows short-term changes in a trend (price waves within a long-term trend). The indicator is displayed in a separate chart window. You can use this indicator in both MT4 and MT5 platforms.
MA_Period (default = 14) – the period of the simple moving average.
BarsToCount (default = 400) – how many bars is used for calculation.
How to trade with Detrended Price Oscillator for MT4 and MT5
Significant price changes are visible when the indicator crosses zero level. But, due to the fact that the indicator is rather slow the best way to use it is to foresee such crossings. It can be used to confirm small trends.
How to download and install an indicator
In order to install the indicator on your MT4 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT5>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “Detrended Price Oscillator” template to apply it on the chart.
Note: This indicator was developed by a third party. AtoZ Markets does not carry any copyrights over this trading tool.