Chande Forecast Oscillator is available in trade oracle package of Metastock is there any Afl for the same. I request any one who has that AFL TO PLEASE POST HERE. f if you can write an AFL i have the formula in metastock
May be these are supporting data to write the afl :
a)`I've been looking at the forecast indicator created by Chande. I found some
code in the AB message board as follows:
p=ParamField("Pricefield");
periods=Param("FO-Periods",17,10,25,1);
fo=100*(p-Ref(TSF(p,periods),-1))/p;
Plot(fo," Tushar Chande's Forecast Oscillator",1,4);
Col=IIf(fo>0,27,4);
Plot(fo, "" ,Col,2);
Plot(0,"",7);'
b) The %F forecast oscillator by Tushar Chande shows deviation between today's closing price and an N-day linear regression forecast (see Linear Regression) of that close. The deviation is expressed as a percentage of the close, so the formula is
close - forecast
%F = ---------------- * 100
close
forecast = linear regression of previous N days, at today
The N days prices for the linear regression start from yesterday's close, and the forecast value is the line extended out to today. This forecast line is like the EPMA (see Endpoint Moving Average), but going out one day further. Chande suggests using a 5 day regression for short term trading, and that's the default in Chart.
