OPEN-SOURCE SCRIPT
Indicator: Forecast Oscillator & a BB extrapolation experiment
FOSC (Forecast Oscillator, %F) is implemented as explained by Kaufman (there are lot of representations out there, using linregs, this one is not.).
This indicator plots a 3-period smoothing of %F. When %F = 0, the trend line and prices are moving parallel to one another; when %F is above 0 the market is accelerating away from the trend line; when %F is below 0 prices are slowing down and the two series are converging.
Now on to the BB extrapolation: As you can see above, a 21-period BB on 1W shows 2 volatile areas of same length. Simple projection using the same time periods gives us a similar volatile area in another 105d. FOSC is forming a similar pattern now as of the first area. More information in the chart markings.
Interesting thing for me was how my other chart (tradingview.com/v/HeSyTev8/) aligned with this. Lets see how far these timelines are respected.
In the mean time, feel free to "Make mine" this and use FOSC in your charts. Appreciate any feedback / comments.
This indicator plots a 3-period smoothing of %F. When %F = 0, the trend line and prices are moving parallel to one another; when %F is above 0 the market is accelerating away from the trend line; when %F is below 0 prices are slowing down and the two series are converging.
Now on to the BB extrapolation: As you can see above, a 21-period BB on 1W shows 2 volatile areas of same length. Simple projection using the same time periods gives us a similar volatile area in another 105d. FOSC is forming a similar pattern now as of the first area. More information in the chart markings.
Interesting thing for me was how my other chart (tradingview.com/v/HeSyTev8/) aligned with this. Lets see how far these timelines are respected.
In the mean time, feel free to "Make mine" this and use FOSC in your charts. Appreciate any feedback / comments.
Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
Vous voulez utiliser ce script sur un graphique ?
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
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