All prophecy is based on a revelation from God, but always operates at a lower level of authority than that of inspired Scripture.
The Spirit has determined that he will operate through certain means and at certain times and if we sinfully put obstacles or warnings or prohibitions in the way, he may well not do for us what he otherwise would have done.
A simple definition of prophecy is that it's when we speak forth in merely human - and thus often fallible - words something that the Holy Spirit spontaneously brings to mind.
The biblical basis is the numerous biblical texts which describe prophecy as a spiritual gift that should characterize God's people in the age of the New Covenant.
God loves to glorify himself by suspending his gifts and blessings on our asking him for them. We should never presume to receive from God apart from prayer what he's clearly told us in Scripture will be ours only through prayer.
Sometimes people base their identity on their gifting. But our identity is in Christ and ultimately has no relation to whatever gift the Spirit may have granted to us.
The New Testament never once warns us that humbly seeking and praying for spiritual gifts will bring anything other than a blessing.
There's always the threat of "spiritual one-up-manship" that we must avoid.
Spiritual gifts, to put it as simply as I know how, are the more or less concrete and tangible ways in which the Holy Spirit manifests his presence in and through the individual members of the church.
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