DZP_Trend - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The DZP Trend Indicator displays the state of the market as a detrended oscillator, which removes the trend component from the price, thereby displaying price action more clearly.
There are four input parameters:
DZP = 100*(AB)
Where:
A = (price - price(shift)) / price(shift) B = (MA - MA(Shift)) / MA(Shift) Price - SMA (Apply Price, 1) Price (Movement) - SMA (Price Applied, 1) Moving Bars Backward MA - EMA (Price Applied, Period) MA(Shift) - EMA(Apply Price, Period) moves the bar backwards
This indicator has the following specific characteristics: A reversal of the indicator line forming its local extrema usually occurs slightly before the price moves toward that reversal. This allows placing pending orders in the desired direction in advance.
Figure 1. Displayed as a line
Figure 2. Displayed as a histogram
Attachment download
📎dzp_trend.mq5 (11.58 KB)
Source: MQL5 #21643
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