Fourier Extrapolator – forecast by the Fourier method
Description: Fourier Extrapolator is dynamic extrapolator based on Fourier transforms. The indicator shows the projected price movement based on the consistent calculation of the Fourier waves. This indicator refers to the type of "outrunning", which draws on the right side of the graph line (default: green), showing the alleged price movement in the future. Default Fourier Exstrapolator configured for scalping. Hypothesis, which served as the basis for the creation of this indicator is as follows:
If there are three waves with the same period of consecutive, there is a high probability of occurrence of wave number 4.
Characteristics of Fourier Extrapolator Indicator
Currency pairs: All pairs
Trading Time: Intraday
The calculation algorithm for the indicator:
Built window series in which the right edge of the fixed (parameter «shift»), and the left edge of the consistently reduced (parameter «T») with a period of 1 bar
Indications of the amplitude spectrum are made in each window
In identifying clearly formed harmonic number 3, it is extended for the period of 1 to the future
For more accurate prediction of construction, all found harmonics are summed
The indicator is calculated only when it is added on the graph, it is worth protecting from new tics and bars
For a more accurate prediction of need large launch window (setting "T"), but it will take a long calculation
Fourier Extrapolator settings:
T - the size of a window, to start the search
shift - shift relative to the forecast of zero bar to display the historical forecasts on the graph
showprofit - play balance dynamics for an imaginary trade by forecast
alert - show periods of harmonics (sounds an alarm), which form the forecast (default: false)
By increasing the parameter "T" to a few thousand, the meter of Fourier Extrapolator reading becomes more accurate, but its calculation goes much longer than the calculation of the default (1000).
In order to evaluate the indicator on the history, need setting "shift" be changed to any positive number other than zero, but in this case the "projected" indicator properties disappear!
The main feature of Fourier Extrapolator is that, the multi currency (suitable for any currency pair). Although this indicator is designed for scalping (M1, M5), it can also be used to trade intraday.
For the medium and long-term trade this indicator, unfortunately, is not suitable as it requires constant monitoring of the situation on the market.
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The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore, it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results. There is no guarantee that the systems, trading techniques, trading methods, expert advisors (EAs), scripts and/or indicators will result in profits or not result in losses.