forecast

The Forecast tool projects a possible future price path between two anchors. It helps visualize potential continuation or reversal scenarios, giving traders a forward-looking view based on past swings.

Syntax

forecast(fromPoint, toPoint, styles?)

Parameters

fromPoint (PricedData) · First anchor (time & price) where the forecast begins. toPoint (PricedData) · Second anchor (time & price) that defines the projected path. styles (ForecastStyleOverrides) · Options for customization:

• fillBackground (boolean) · Fill the projection area.

• transparency (number) · Background transparency (0–100).

• showLabels (boolean) · Show labels on projected points.

• line (LinesLevels without coeff) · Style of projection lines (linestyle, linewidth, color).

• background (RGBAColor | BaseColors) · Color fill for projection zones.

Return Value

(string) · The drawing ID of the created Forecast.

Example

Every 60 candles, draw a forecast projection from a past swing low to a later swing high, extending forward.

//@version=1
init = () => {
  indicator({ onMainPanel: true, format: 'inherit' });
};

onTick = () => {
  if (index % 60 === 0) { // draw every 60 bars
    // 1) Select two anchors
    const from = newPoint(time(100), low(100));  // base point
    const to   = newPoint(time(60),  high(60));  // reference point

    // 2) Style setup
    const style = {
      fillBackground: true,
      transparency: 75,
      showLabels: true,
      line: { linestyle: 2, linewidth: 2, color: color.blue },
      background: color.rgba(0, 0, 255, 0.15)
    };

    // 3) Draw forecast
    forecast(from, to, style);
  }
};

Tips

• Use meaningful swing highs/lows for anchors so projections align with market rhythm.

• Forecasts are visual guides, not trade signals — combine them with your system rules.

• Try layering multiple forecasts from different swings to see overlapping “future zones.”

Warning

• If anchors are too close together, the projection won’t be useful — make sure they cover a significant move.

Good Practice

• Keep forecast lines semi-transparent to avoid cluttering your chart.

• Compare forecast projections with Fibonacci extensions for extra confirmation.