Detrended Price Osc (Indicator)

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Input Information

Name Expression Default Description
Price Numeric Close Price used to calculate the Detrend Price Osc.
Length Numeric 14 Number of bars used to calculate the Detrend Price Osc.
ColorNormLength Numeric 14 Number of bars over which to normalize the indicator for gradient coloring.
UpColor Numeric Yellow Color to use for indicator values that are relatively high over ColorNormLength bars.  Set to -1 to disable gradient color plotting.
DnColor Numeric Magenta Color to use for indicator values that are relatively low over ColorNormLength bars.
Set to -1 to disable gradient color plotting.
GridForegroundColor Numeric Black Color to use for numbers in RadarScreen cells when gradient coloring is enabled, that is, when both UpColor and DnColor are set to non-negative values.

Market Synopsis

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.

Plot Information

Number Name Default Color Description
Plot1 DPO Yellow/Magenta Plots the Detrend Price Osc as a line.
Plot2 ZeroLine Dark Green Plots a horizontal line at zero.

When applied to a chart, this indicator contains two plots, displayed in a separate subgraph from the price data.

Set either UpColor and/or DnColor to -1 to disable gradient plot coloring.  When disabled, Plot1 color is determined by settings in indicator properties dialog box.  Plot2 (ZeroLine) color always comes from indicator properties dialog box.

Related Function

Detrend