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Miscellaneous > Detrend

Article/Author: Omega Research Inc., 1996

Download: detrend.ela

File Includes: Indicator - Detrend

Category: Indicator > Miscellaneous

Description:

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.

Usage:

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.




Inputs:

OSC - includes price and number of bars used to calculate the Detrend indicator

EasyLanguage Code:
INPUTS: OSC(AVERAGE(CLOSE,14));


PLOT1(HIGH - OSC, "DTHIGH");
PLOT2(LOW - OSC, "DTLOW");
PLOT3(0, "OSC");