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Forecast oscillator
Source: https://fxcodebase.com/code/viewtopic.php?f=38&t=61847
Forum: 38 · Topic 61847 · 1 post(s)
Forecast oscillator
Alexander.Gettinger · Fri Feb 20, 2015 5:25 pm
Original LUA oscillator: viewtopic.php?f=17&t=693.
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.
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