Hello Guys, does anyone have a hint or a formula on how to calculate the Forecast Oscillator, an indicator based on Tushar Chandes regression studies. Any help would be greatly appreciated. I already googled around like hell, the formula cannot be that complex, but no website lists it. It is built into Metastock, so maybe the Metastock Docs can give a hint ? Thx
1. Find regression line first (which is straightforward or do a google search); 2. Extrapolate the line few periods ahead to get a forcast price; 3. Evaluate the following percentage: 100*(actual price - forecast price)/actual price