Solar energy technologies require precise solar forecasting to reduce power generation losses and protect equipment from irradiance fluctuations. This study introduces an alternative methodology for short-term forecasting of direct normal irradiance (DNI) and global horizontal irradiance (GHI) utilizing ground-based sky images captured by a single device. A low-cost all-sky imager (ASI) was developed, which implements an angular transformation and an optical flow technique to extract cloud features such as shape and velocity. A mathematical model calculates cloud transmittance based on pixel intensity, eliminating complex training steps. Results from a 30-day experimental campaign, incorporating diverse meteorological conditions, were compared against a secondary standard solarimetric station, a smart persistence model, and state-of-the-art approaches. The DNI forecast achieved an RMSE (relative error) of 46.79 W/m2 (11.99%) for 1-min intervals and 90.21 W/m2 (17.54%) for 10-min intervals, while GHI ranged from 31.73 W/m2 (4.68%) to 75.02 W/m2 (13.63%). Pearson correlation coefficients exceeded 0.9 overall, reaching 0.98 and 0.99 for the 1-min DNI and GHI forecasts, and 0.91 and 0.96 for the 10-min DNI and GHI forecasts, respectively, underscoring the system’s accuracy and robustness in complex meteorological scenarios.