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Inverse Fisher CCI - indicator for MetaTrader 5

Mladen Rakic | English Русский 中文 Español Deutsch 日本語 Português

votes: 14
2018.03.13 14:08

CCI is a very useful indicator. But it lacks one thing: known bounds.

Adding Inverse Fisher Transform to CCI makes it oscillate in known bounds, and that way it can help in assessing what is exactly going on with the markets. Also, a sort of a signal line is added (so instead of using only the slope of the indicator, signal line is used - which may filter out some false signals) and coupled with additional CCI smoothing, it should be usable in trend determination, but in any case some parameters experimenting is strongly advised.

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This version is a sort of normalized version - since it shows Volume as a percent compared to the Average Volume over a chosen period.

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Long known volume analysis method.

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The indicator shows current trend by showing a color of the current balance. The opposite color is not displayed as long as it does not become a trend (hence, lack of color, means the opposite trend is the prevailing)