The indicator is based on several methods that can be chosen by the Method input variable:
Method 1: Fourier’s extrapolation; the frequencies are calculated using the Quinn-Fernandes Algorithm
Method 2: Autocorrelation Method
Method 3: Weighted Burg Method
Method 4: Burg Method with Helme-Nikias weighting function
Method 5: Itakura-Saito (geometric) method
Method 6: Modified covariance method
Methods 2-6 are the methods of linear prediction. The linear prediction is based on finding the future values as the linear functions of the past values. Assume that we have a number of prices x..x[n-1] where the higher index is compliant with the recent price. The prediction of the future price x[n] is calculated as
x[n] = -Sum(a[i]*x[n-i], i=1..p)
where a[i=1..p] – coefficients of the model, p – order of the model. The listed methods 2-6 find the coefficients a by decreasing the mean-root-square error on the training last n-p bars. Of course, we can reach the zero error of prediction if we directly solve the set of equations mentioned above with n=2*p by the Levinson-Durbin method. Such method of prediction is called Prony Method. Its disadvantage is the instability during the prediction of the future values of the series. That’s way this method has not been included.
The other input parameters are:
LastBar – the number of the last bar in the past data
PastBars – the number of past bars used for the prediction of the future values
LPOrder – the order of the linear model as a fraction from the number of the past bars (0..1)
FutBars – the number of future bars in the prediction
HarmNo – the maximum number of frequencies for the Method 1 (0 means all frequencies)
FreqTOL – the imprecision of the frequeincies calculation for the Method 1 (if it is >0.001 it can’t converge)
BurgWin – the number of the weighting function for the Method 2 (0=Rectangular 1=Hamming 2=Parabolic)
The indicator draws two lines: the blue line shows the prices of the model on the training bars, the red line shows the predicted future prices.
MT4 Indicators – Download Instructions
Extrapolator – indicator for MetaTrader 4 is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data.
Extrapolator – indicator for MetaTrader 4 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT4 Strategies
Recommended Forex Metatrader 4 Trading Platform
- Free $50 To Start Trading Instantly
- Deposit Bonus up to $5,000
- Unlimited Loyalty Program
- Awards Winning Trading Broker
How to install Extrapolator – indicator for MetaTrader 4.mq4?
- Download Extrapolator – indicator for MetaTrader 4.mq4
- Copy Extrapolator – indicator for MetaTrader 4.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 4 Client
- Select Chart and Timeframe where you want to test your MT4 indicators
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
- Right click on Extrapolator – indicator for MetaTrader 4.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Extrapolator – indicator for MetaTrader 4.mq4 is available on your Chart
How to remove Extrapolator – indicator for MetaTrader 4.mq4 from your Metatrader Chart?
- Select the Chart where is the Indicator running in your Metatrader 4 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Extrapolator – indicator for MetaTrader 4 (Free Download)
Click here below to download: