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Ehlers fisher transform of smoother RSI - indicator for MetaTrader 5
- Views:
- 6791
- Rating:
- Published:
- 2018.10.05 10:40
- Updated:
- 2019.01.29 13:20
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Basics:
Original Ehlers fisher transform is using an adjusted RSI in a fisher transform calculation in order to further normalize and emphasize the RSI values in order to be able to spot market conditions in easier way.
This version:
It is adding 2 steps:
- floating levels usage option
- in case that the floating level is not to be used, setting the floating level period to less than or equal to 1 will turn the level from floating to fixed levels
- smoothing the RSI value (and that way it filters some of the possible insignificant changes
- usual set of average types can be used for smoothing :
- simple moving average (SMA)
- exponential moving average (EMA)
- smoothed moving average (SMMA)
- linear weighted moving average (LWMA)
Usage:
You can use the color changes of the indicator as signals.
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