This TradingView Indicator is for The EXACT Future Prediction
This TradingView Indicator is for The EXACT Future Prediction
Today we cover a new TradingView Indicator strategy that Predicts the EXACT future of the price! This indicator and strategy can be used on the 1-minute, 5-minute, 15-minute, and 4-hour timeframe for scalping and day trading.In this Video, I want to talk about an amazing tradingview indicator that shows the future of the price. Surprisingly, it’s very accurate. I want to show you this new and free indicator that tries to predict the exact future of price by looking at its history.
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Let’s open tradingview and add the indicator to the chart.
In the indicator search tab, search for the Echo indicator. Select the indicator by Lux algo and add it to the chart.
This indicator uses a simple time series forecasting method derived from the similarity between recent prices and similar/dissimilar historical prices.
This method originally assumes that future prices can be estimated from a historical series of observations. They are most similar to the most recent price variations. This similarity is quantified using the correlation coefficient. Such an assumption can prove to be relatively effective with the forecasting of a periodic time series.
In the indicator settings, we have an evaluation window, forecast window, forecast mode, forecast construction and source.
• Forecast Window: Determines the forecasting horizon.
• Forecast Mode: Determines whether to choose historical series similar or dissimilar to the recent price observations.
• And Forecast Construction: Determines how the forecast is constructed. Cumulative, Mean, or Linear
• And at the end, Source: Which allows us to choose the source input of the forecast.
As I said, this indicator can be used to forecast future trends. But also it can to indicate which historical variations have the highest degree of similarity/dissimilarity between the observations in the orange zone.
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