6-Hour Forecast (15m Steps) with Arrowed Lines & 95% CI -Beshara
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Explanation Timeframe Conversion: The helper function converts the chart’s timeframe (e.g., "15", "1H", etc.) into minutes so that the script can determine how many bars correspond to a 15‑minute interval.
Regression & Forecasting: The script calculates a linear regression over the specified number of bars, approximates the slope, and computes the standard deviation of the residuals for error estimation. Then, for each forecast step (every 15 minutes for 6 hours), it extrapolates the forecast, calculates the 95% confidence interval, and draws red line segments connecting forecast points.
Visualization:
Arrows: At each forecast point, an arrow (▲ for upward, ▼ for downward, or → for unchanged) is drawn to indicate direction. Confidence Intervals: Dotted orange lines display the 95% confidence interval at each forecast point. Final Label: A label at the final forecast point shows the predicted price and its confidence interval. Historical Regression: The blue line represents the historical regression line. This script is provided for educational purposes only and does not guarantee predictive accuracy. Always use multiple tools and proper risk management in trading.