Forecast oscillator

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Forecast oscillator

Postby Nikolay.Gekht » Sun Apr 18, 2010 2:50 pm

The forecast oscillator is developed by by Tushar Chande and is an extension of the Time Frame Forecast method.

The formula is:
Forecast Oscillator = Price - Previous Time Series Forecast / Price * 100

Interpretation:
The positive value of the indicator forecasts higher prices. The negative value forecasts the lower prices. Chande also recommends to user 3-day smoothing line as a trigger. When the oscillator falls below or crosses above the trigger line it shows a change of the trend.

forecast.png


Download:
forecast.lua
(1.66 KiB) Downloaded 2121 times

forecast with alert.lua
(12.21 KiB) Downloaded 816 times


The indicator was revised and updated
Nikolay.Gekht
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Re: Forecast oscillator

Postby Apprentice » Sun Dec 25, 2016 7:08 am

Indicator was revised and updated.
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Re: Forecast oscillator

Postby mulligan » Thu Jan 12, 2017 10:40 am

Would very much like to have an alert on this indicator based on crossing above or below the zero line. Your consideration is appreciated.
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Re: Forecast oscillator

Postby Apprentice » Fri Jan 13, 2017 7:04 am

forecast with alert.lua added.
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