Ehlers fisher transform of smoother RSI - indicator for MetaTrader 5

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.