File Includes: Indicator - Detrend
Category: Indicator > Miscellaneous
The Detrend Price Osc indicator is similar to a moving average, in that it filters out trends in prices to more easily identify cycles. The indicator is an attempt to define cycles in a trend by drawing a moving average as a horizontal straight line and placing prices along the line according to their relation to a moving average. It provides a means of identifying underlying cycles not apparent when the moving average is viewed within a price chart. Cycles of a longer duration than the Length (number of bars used to calculate the Detrend Price Osc) are effectively filtered or removed by the oscillator.
This indicator is very similar to the Detrend Price Oscillator from TradeStation, but differs in calculation approaches and the ability to work with 2 prices at once, not one.
Note: Max number of bars study will reference must be set to Auto-Detect.
OSC - includes price and number of bars used to calculate the Detrend indicator
PLOT1(HIGH - OSC, "DTHIGH");
PLOT2(LOW - OSC, "DTLOW");