3x Fisher Transform used for high accuracy trend analysis.
🐟 Fisher has been my go-to indicator for establishing bias and provides a reliable second opinion for your trade setups. It also helps to identify overbought and oversold levels. If you use it properly, you will be fishing for profits. 🤑
One of the main advantages of fisher transform is that it works well on any timeframe. I use it most often on 4h or daily timeframes, but it works on 1 minute as well. Increasing from a pivot low is a long signal. Decreasing from a pivot high is a short signal.
The Fisher Transform is a technical indicator created by J.F. Ehlers that converts prices into a Gaussian normal distribution. In this way, the indicator highlights when prices have moved to an extreme, based on recent prices. This may help in spotting turning points in the price of an asset.
If anyone is looking for the code, check out user DonovanWall and his Fisher Multi-Pack [DW] or user mortdiggiddy has an MTF version.
jaggedsoft
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Example: on 3 day, fisher transform signaled the end of the bear market.
BlueChipMutt
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@jaggedsoft, I have noticed that there are three different shades of green and red in this indicator. So which colored area edge can be said to represent the actual line by which we can tell if the indicator is rising from a pivot low or descending from a pivot high ? Thanks.
oldmaid777
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I'm interested in fisher
sharaaU7
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Hi...you have excellent ideas as well as beautifully presented indicators..kindly give alert() options it will be fantastic!!