In this script, the "TRAX" (TRIX) indicator is calculated using the Volume Weighted Moving Average (VWMA) instead of Exponential Moving Average (EMA) like the standard TRIX. The Detrended Price is used to identify short term cycles with a rate of change verses the rate of change from a triple smoothed TRAX VWMA . The strategy is intended for counter-trend trading,...
According to TradingView the Detrended Price Oscillator is an oscillator that removes trend from price in order to more clearly show an instrument's cyclical
highs and lows so that an investor or trader may more easily time when to buy or sell the underlying instrument. Accordingly, it is not meant to be used as a way of gauging momentum, however, I find it...
