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Forecast oscillator
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=693
Forum: 17 · Topic 693 · 4 post(s)
Forecast oscillator
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.
Download:
The indicator was revised and updated
Re: Forecast oscillator
Apprentice · Sun Dec 25, 2016 7:08 am
Indicator was revised and updated.
Re: Forecast oscillator
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.
Re: Forecast oscillator
Apprentice · Fri Jan 13, 2017 7:04 am
forecast with alert.lua added.