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Forecast oscillator

PostPosted: Sun Apr 18, 2010 2:50 pm
by Nikolay.Gekht
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

Re: Forecast oscillator

PostPosted: Sun Dec 25, 2016 7:08 am
by Apprentice
Indicator was revised and updated.

Re: Forecast oscillator

PostPosted: Thu Jan 12, 2017 10:40 am
by mulligan
Would very much like to have an alert on this indicator based on crossing above or below the zero line. Your consideration is appreciated.

Re: Forecast oscillator

PostPosted: Fri Jan 13, 2017 7:04 am
by Apprentice
forecast with alert.lua added.