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980 posts
msg #96344
9/17/2010 1:25:40 PM

Forecast Oscillator

UsageForecast Oscillator(close,45)
DescriptionThe Forecast Oscillator utilizes past values of the Time Series Forecast to generate a measure indicating how well the Time Series Forecast is capturing the trend. In particular, values above 0 indicate that the most recent close was above the value predicted by prior Time Series Forecast value, and the opposite for negative values.

Furthermore, when there are extended stretches where the Forecast Oscillator is below 0 this may indicate that the trend line established by the Time Series Forecast may be consistently higher than the prices are proving, possibly leading to continued lower values and a change in trend.

Below is an example showing the Forecast Oscillator above 0 for an extended period of time:

count(Forecast Oscillator(close,45) is above 0,10) equals 10
and draw TSF(close,45)
and close is above 5.00
and average volume(30) is above 250000

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