Forecast - indicator for MetaTrader 5

Calculation:

Forecast Oscillator = Applied price - Previous Time Series Forecast / Applied price * 100.0

Interpretation:

Positive indicator values predict a price growth. Negative values suggest the price may fall. Tushar Chande also recommends using a 3-day smoothing line as a signal line. When the oscillator line is accelerated relative to the signal line or crosses it, this indicates either stopping of the price movement (reversal or intersection opposite to the signal line movement), or a continuation of movement in the same direction (reversal or intersection in the direction of the signal line movement), or a forthcoming trend change (needs to be confirmed by the intersection of the oscillator's zero value). Data interpretation depends on the position of the oscillator line, i.e. whether it is above or below zero.