Introducing Detrended Synthetic Price forex trading indicator. This is a very simple oscillator based forex tool. The detrended synthetic price will give you information about the momentum of the market and you will need additional indicators like moving averages to get accurate buy/sell signals. This is a very flexible indicator, you can use it to trade any currency pair and on any trading timeframe. Always watch out for trending markets because they provide the best entries and avoid choppy markets.
Install Detrended Synthetic Price, your chart should look like this;
The Detrended Synthetic Price indicator contains two oscillators, the dotted grey oscillator, and the signal generator. You should make your trading decisions on the basis of crossovers from these two oscillators and the color of the oscillator. When the signal generator turns green it signals a buying opportunity and when the signal generator turns orange it signals a selling opportunity.
Conditions for buying Using Detrended Synthetic Price.
- The market should be up trending.
- The market should be rising from the recent swing low.
- Signal generator oscillator of DSP oscillator indicator should be green.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the green oscillator turns grey.
Conditions for selling Using Detrended Synthetic Price.
- The market should be down trending.
- The market should be falling from the recent swing high.
- Signal generator oscillator of DSP oscillator indicator should be orange.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the orange oscillator turns grey.
Download Free Forex Detrended Synthetic Price Indicator
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