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Forecast Oscillator

The Forecast Oscillator is a comparison (in percentage) of the issue price and the price as seen by the Time Series Forecast Oscillator. It's an extension of the indicators which are based on linear regression.

The oscillator is above the zero point if the forecast price is higher than the current price. On the contrary, if it's below it turns out to be less than zero. When the forecast price and the current price are equal, the oscillator makes a zero. Current prices that are constantly over the forecast price suggest higher prices ahead and prices that are constantly under the forecast price suggest lower prices ahead.

It is calculated as follows:

(Close - Previous Time Series Forecast) * 100 / (Close)