TimeSeriesForecast (Function)

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The TimeSeriesForecast function returns the value where a linear regression line of the Close is projected to be relative to a future (or past) bar position.

Syntax

TimeSeriesForecast(Length, TgtBar)

Returns (Double )

A numeric value of a future (or past) bar position.

Parameters

Name	Type	Description
Length	Numeric	Sets the bars to consider.
TgtBar	Numeric	Sets the point in the past or future to use for projecting a regression value. Use a positive integer for a previous point and a negative integer for a future point.

Remarks

Linear Regression is a concept also known as the "least squares method" or "best fit." Linear Regression attempts to fit a straight line between several data points in such a way that distance between each data point and the line is minimized.

The equation of any line resembles the following:

y = mx + b

In the equation m refers to the slope of the regression line, b refers to the constant intercept of the y-axis, x is the independent variable, and y is the dependent variable. This function returns all values.

Example

Assigns to Value1 the projected value 5 bars in the future of a linear regression line over the past 20 bars.

Value1 = TimeSeriesForecast (20, -5);

Reference

Linear Regression is a principle found in most statistical publications.