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Monte Carlo Forecast
Summary: The Monte-Carlo simulation is an algorithmic method used to approximate a numerical value with random processes.
Info:
Monte-Carlo is used where traditional analytic problems solving is difficult for specific deterministic problems or processes with a random distribution of outcomes.
From investopedia: Monte Carlo simulations are used to model the probability of different outcomes in a process that cannot easily be predicted due to the intervention of random variables. It is a technique used to understand the impact of risk and uncertainty in prediction and forecasting models.
For an in depth look at the Monte-Carlo simulation, check out the medium article:
The parameters of the Monte Carlo Forecast can be changed by locating and opening the Javascript Code under Data Building Procedure -> Procedure Loop under ’Monte Carlo Forecast’ Product Definition.
Products & Properties
The following properties are available to access:
| Product Name | Product Variable | Properties |
|---|---|---|
| Monte Carlo Forecast | MonteCarloForecast | forecast1, price1, price5, price10, price20, price30, price40, price45, price1d, price5d, price10d, price20d, price30d, price40d, price45d |
Example:
Examples of accessing this indicator can be found below:
chart.at01hs.MonteCarloForecast.forecast1
chart.at01hs.MonteCarloForecast.price1
chart.at01hs.MonteCarloForecast.price30
chart.at01hs.MonteCarloForecast.price5d
chart.at01hs.MonteCarloForecast.price20d
chart.at01hs.MonteCarloForecast.price45d
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Polus Data Mine — TOC
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