TC_TrendingTSF

This is a Time Series Forecast line - a type of Linear Regression using the Least Squares method. The standard implementation attempts to forecast the direction of price.

DOWNLOAD FOR NinjaTrader7, NinjaTrader8, MT4, eSignal

trending tsf line with bar coloring and trend direction

This indicator is free to download and use. We wish you good luck with your trading.

By measuring the slope of the line, and the position of the line compared to price, this indicator can quite neatly reveal the current trend - even during fairly sharp retracements. Notice how the blue area on the centre-right of the chart has a sharp retracement, yet the indicator stays in an uptrend color. Price finds support along the TSF line, and builds into a great move. You can choose whether to color the bars, or display the colored TSF line, or both. NEW UPDATE 1.3 : graphics altered to show up and down bars as different opacity colors.

Read the article of tips for trading with TC_TrendingTSF and TC_NovelChannel.

This indicator is free to download and use. We wish you good luck with your trading.

Parameters:

  • Price Type - Choose from Close, Typical, Median etc

  • TSF Forecast - This is the number of bars we wish to 'forecast' into the future

  • TSF Period - The number of bars used to calculate the Linear Regression

  • Display -

  • Choose Indicator to show the colored line,

  • Choose PaintBars to color the price bars or candles with the trend (note colored outlines too)

  • Choose All to show both the colored line and the colored prices

DOWNLOAD FOR NinjaTrader7, NinjaTrader8, MT4, eSignal

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