Hi
Let me introduce my Detrended Price Oscillator script.
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.
Let me introduce my Detrended Price Oscillator script.
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.
//////////////////////////////////////////////////////////// // Copyright by HPotter v1.0 22/04/2014 // 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. //////////////////////////////////////////////////////////// study(title="Detrended Price Oscillator", shorttitle="DPO") Length = input(14, minval=1) Series = input(title="Price", type=string, defval="close") hline(0, color=green, linestyle=line) xPrice = close xsma = sma(xPrice, Length) nRes = xPrice - xsma plot(nRes, color=red, title="Detrended Price Oscillator")