This Forecasting library has a couple of Novel and traditional approaches to forecasting stock prices. Traditionally, it provides a basic ARIMA forecaster using simple autoregression, as well as a linear regression and quadratic regression channel forecaster.
Novel approaches to forecasting include:
1) A Moving Average based Forecaster (modelled after ARIMA), it is capable of forecasting based on a user selected SMA.
2) Z-Score Forecast: Forecasting based on Z-Score (example displayed in chart).
machine_learning_regression(output, x1, x2, x3, x4, x5, show_statistics) : Creates an automatic regression based forecast model (can be used for other regression operations) from a list of possible independent variables. Parameters: output (float) x1 (float) x2 (float) x3 (float) x4 (float) x5 (float) show_statistics (bool) Returns: : result, upper bound levels, lower bound levels, optional statitics table that displays the model parameters and statistics
time_series_linear_forecast(src, forecast_length, standard_deviation_extension_1, standard_deviation_extension_2) : Creates a simple linear regression time series channel Parameters: src (float) forecast_length (int) standard_deviation_extension_1 (float) standard_deviation_extension_2 (float) Returns: : Linreg Channel
quadratic_time_series_forecast(src, forecast_length) : Creates a simple quadratic regression time series channel Parameters: src (float) forecast_length (int) Returns: : Quadratic Regression Channel
zscore_forecast(z_length, z_source, show_alerts, forecast_length, show_forecast_table) : Creates a Z-Score Forecast and is capable of plotting the immediate forecast via a Polyline Parameters: z_length (int) z_source (float) show_alerts (bool) forecast_length (int) show_forecast_table (bool) Returns: : The export is void, it will export the Polyline forecast and the Z-forecast table if you enable it.
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v2
Added: auto_trend_lookback_value(src) : Finds the strongest correlation to time in trend from 50 to 850 candles back Parameters: src (float) Returns: : trend length interval
Hello Steversteves, I copied and pasted the forecast pinescript code into my editor but I do not see anything on my chart like the one you provided. There are two indicators on your chart example, can you please let me know what steps I should follow to get the information you have provided to appear on my chart. Thank you and Happy New Year!
Steversteves
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@AnnettesWorth, Hey, I actually just posted the Z-Score one as an example, so you can use that, but also you can look through the code to see how library exports are applied :-). I can do a video tutorial in the future on how to use libraries from Pinescript! They can be a bit confusing and took me a while to learn as well :-).
AnnettesWorth
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@Steversteves, Thank you so much for posting the Z- score Forecaster script! I also use your Scatterplot script for forecasting. Thank you for all you do. Happy New Year