DPO Histogram stands for Detrended Price Oscillator. This can be used with any forex trading system. This is used for to make sure to confirm the total trading entries in the market.
DPO Histogram Indicator
This indicator calculates the difference between the long and short period. This indicator displays the overbought and oversold areas on the chart. The DPO moves up and below from the zero level.
When the DPO histogram value is above from the zero level then it tells that the trend is up and the time period is also up. It highlights the uptrend with the blue color bar. The traders use the blue bars and ignores the red bars in the uptrend.
When the DPO histogram value is down from the zero level then it tells that the trend is down and the time period is also down. It highlights the uptrend with the blue color bar. The traders use the red bars and ignores the blue bars in the down trend.
When the red bars will be converted into blue bars then there is a buy signal.
When the blue bars will be converted into red bars then there is a sell signal.
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