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Published:

2018.09.27 16:15

DZP_Trend.mq5 (11.58 KB) view

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The DZP Trend indicator displays the market state as a detrended oscillator, i.e. the trend component is removed from the price, thus showing a clearer picture of the price movement.

There are four input parameters:

Period - calculation period;
Shift;
Applied price;
Mode view - display mode:
- Line
- Histogram

Calculations:

DZP = 100*(A-B)

where:

A = (Price - Price(Shift)) / Price(Shift)
B = (MA - MA(Shift)) / MA(Shift)
Price - SMA(Applied price, 1)
Price(Shift) - SMA(Applied price, 1) Shift bars back
MA - EMA(Applied price, Period)
MA(Shift) - EMA(Applied price, Period) Shift bars back

The indicator has the following specific feature: indicator line reversal, which forms its local extremum, often occurs a little earlier than the price moves towards this reversal. This allow placing a pending order in the desired direction in advance.

Fig. 1. Displayed as a line

Fig. 2. Displayed as a histogram

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21643

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