Forecast Oscillator formula !

[saschabr]

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

 

[mg_mg]

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