Chande Forecast Oscillator
Chande Forecast Oscillator (CFO) – an oscillator that reflects the difference between the expected and real prices. It is calculated as the difference in percent between the expected (identified by x-period of linear regression) and current instrument prices. The oscillator is above zero when the forecasted value is above the current price. Otherwise, it is below zero when the forecasted value is below the current price.
How the indicator looks like in the chart:
The indicator has the following parameters:
Period - period of the Linear Regression indicator.
Source - setting of the indicator calculation parameters:
Panel - selection of the indicator location in the chart:
- New panel
Show value - showing the indicator values to the left on the price scale.
Scale - if this option is ON, the scale will be calculated automatically based on the minimum and maximum indicator values, so that the indicator would be accommodated in the chart.
Color - the color setting of the indicator.
Visual type - visual setting of the indicator display in the chart:
- Up arrow
- Down arrow
- Axis label
Line style - setting of the line display style:
- Dash - dot
- Dash - dot - dot
Width - setting of the indicator line width.
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