Detrended Price Rate of Change — Indicator by OmegaTools

detrendedpriceoscillator oscillator rateofchange

The Detrended Price Rate of Change is an oscillator developed to help traders identify potential conditions of overbought and oversold markets.

The formula of the oscillator includes both the Detrended price formula, useful to spot divergences, and the Rate of change simplified formula, which helps in identifying overextended markets and gives useful information on price momentum.

Release Notes:

Candle mode was added, now users can choose to display the main line as candles or as the standard line.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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