The Detrended Price Oscillator indicator (DPO) is used to remove trend from price. This is done in order to identify and isolate short-term cycles. The DPO is not typically aligned with the most current prices. It is offset to the left (the past) which helps to remove the current trend. Because it is offset to the past, the DPO is not considered a momentum oscillator. It only measures past prices against a Simple Moving Average as a way to gauge a cycle's high/low range as well as typical duration.
Read more about the Detrended Price Oscillator
in TradingView wiki.