# Charts

## Chande Forecast Oscillator (CFO)

### Description

The Chande Forecast Oscillator developed by Tushar Chande The Forecast Oscillator plots the percentage difference between the closing price and the n-period linear regression forecasted price. The oscillator is above zero when the forecast price is greater than the closing price and less than zero if it is below.

### Formula

$CFO_{i} = \frac{(Close_{i} - Linear\;Regression)\times 100}{Close_{i}}$

where linear regresion is calcualted as

$slope\;=\;m\;=\;\frac{\sum_{i=1}^{n}(x_{i} - \bar{x})(y_{i} - \bar{y})}{\sum_{i=1}^{n}(x_{i} - \bar{x})^{2}}$

$intercept\;=\;b\;=\;\bar{y} - m\bar{x}$