Trend forecast indicator.

Xprofuter is one of the most well-known trend forecasting indicators among traders. Although the accuracy of its predictions is rather questionable, editing the basic settings may improve the situation.

The trend forecast indicator, according to its creators, outperforms the existing trend by 10-12 bars.

It works by creating its own trend line, which is displayed in a separate window, and a second line. Unlike the first, it simply extends the existing trend line on the chart.

Download the trend forecast indicator

. The archive contains two script files: XprofuterOverlay, which extends the line on the main currency pair ; XprofuterDD, which is already displayed in a separate window, separated by a zero line.

The indicator doesn't have many settings that you can easily figure out:

• Period settings - set the number of bars to be analyzed, 14 by default.
• Forecast time - how long the forecast will last, 14 by default, but you can reduce the time to make the forecast more accurate.
• Moving average period as the main reference point for the indicator.
• Signal line activation - set 1 and get an additional line to assist in the analysis.
 
The tool itself is quite interesting, but its accuracy is questionable. During testing, I got the impression that the trend forecast indicator works adequately depending on the market situation. Sometimes it really does guess the Forex trend , but sometimes its forecast doesn't even closely resemble the real trend line.