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Indicators

Ehlers fisher transform of smoother RSI - indicator for MetaTrader 5

Mladen Rakic | English Русский 中文 Deutsch 日本語 Português

Views:
3025
Rating:
votes: 10
Published:
2018.10.05 10:40
Updated:
2019.01.29 13:20

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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