Forecast Oscillator Indicator
Chande linear-regression momentum oscillator · Crossover + divergence signals · Free · MT4
About Forecast Oscillator Indicator
The Forecast Oscillator (FOSC), developed by Tushar Chande and documented at forexmt4indicators.com, is a MetaTrader 4 technical indicator that extends the Time Series Forecast (TSF) method to forecast probable price movements using linear regression, generating momentum-reversal signals through crossovers of its main oscillator line and signal line.
It compares a security's close price to its own time-series forecast, projecting the price trend for the next bar. Visually, a turquoise oscillator line responds to price swings, paired with a smoother green signal line; blue dots below the lines indicate bullish momentum reversal, while magenta dots above indicate bearish reversal. It's also effective for divergence trading — bullish divergence when price makes lower lows while FOSC makes higher lows, and vice versa for bearish divergence.
- Platform: MetaTrader 4
- Type: Linear-regression-based momentum/forecast oscillator
- Signals: Line crossovers + blue/magenta reversal dots
- Also used for: Divergence trading
- Developer: Tushar Chande
- Price: Free
- Source: forexmt4indicators.com · Forecast Oscillator MT4 Indicator