fourier extrapolation indicator for price prediction
Info
The fourier extrapolation indicator for price prediction is a Indicator for MetaTrader 5 that this indicator employs a multi-harmonic trigonometric model to forecast future price movements based on historical data. the model is defined as:x[i] = m + sum( a[h]*cos(w[h]*i) + b[h]*sin(w[h]*i), h=1.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use fourier extrapolation indicator for price prediction
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
this indicator employs a multi-harmonic trigonometric model to forecast future price movements based on historical data.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: institutional dominant cycle extractor: mastering market regimes with fourier analysis - another powerful indicator for MetaTrader 5 traders.
this indicator employs a multi-harmonic trigonometric model to forecast future price movements based on historical data. the model is defined as:Also recommended: ar extrapolation indicator for metatrader - similar indicator with strong performance on MetaTrader 5.
x[i] = m + sum( a[h]*cos(w[h]*i) + b[h]*sin(w[h]*i), h=1..h )
where:
- x[i] represents the price at the i-th bar, with a total of n past prices;
- m is the bias;
- a[h] and b[h] are scaling coefficients for each harmonic;
- w[h] denotes the frequency of the h-th harmonic;
- h is the harmonic number;
- h is the total number of fitted harmonics.
the primary challenge in fitting this model lies in determining the harmonic frequencies w[h]. in a fourier series, these frequencies are set as 2*pi*h/n, but this approach leads to a simple repetition of past prices into the future. to address this, the indicator utilizes the quinn-fernandes algorithm, which fits harmonics iteratively until the desired total number of harmonics h is achieved. after fitting each new harmonic, the algorithm calculates the residue between the updated model and real values, then fits a new harmonic to this residue.
the indicator's input parameters are:
- npast: the number of past bars used to fit the trigonometric series.
- nfut: the number of future bars to predict.
- nharm: the total number of harmonics in the model.
- freqtol: the tolerance for frequency calculations.
the indicator visually presents two curves: a blue curve depicting modeled past values and a red curve showing the modeled future values.
You may also like: binary wave st dev - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_plots 2
#property indicator_label1 "modeled future"
#property indicator_type1 draw_line
#property indicator_color1 red
#property indicator_style1 style_solid.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.