Tangent Extrapolation Forecast

Tangent Extrapolation Forecast
This indicator visually projects price direction by drawing a smoothed sequence of tangent lines based on recent price movements. For each bar in a user-defined lookback window, it calculates the slope over a smoothing period and extends the projected price forward. The resulting polyline forecast connect the endpoints of the extrapolations, and is color-coded to reflect directional changes: green for upward moves, red for downward, and gray for flat segments. This tool can assist traders in visualizing short-term momentum and potential trend continuity without introducing artificial future gaps.

Inputs:

Bars to Use: Number of historical bars used in the forecast.

Slope Smoothing Window: The number of bars used to calculate slope for projection.

Source: Price input for calculations (default is close).

This indicator does not generate buy/sell signals. It is intended as a visual aid to support discretionary analysis.