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The Detrended Price Oscillator (DPO) is exactly what its name suggests, Price action with the trend removed. It is best used for identifying cycles in the market and readily identifying overbought and oversold levels.
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By using this method, it is possible to remove all cycles longer that n periods from view, allowing the user to concentrate on cycles that are n periods or less in length. Also of interest is the ability to readily recognize extremes in price action. |
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