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Ehlers fisher transform of rsi(OMA) - indicator for MetaTrader 5
- Views:
- 6956
- Rating:
- Published:
- 2018.10.05 10:46
- Updated:
- 2019.01.29 13:21
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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
- filtering out the prices prior to be used in calculation (averaging the price is used for that purpose - hence the name ris(OMA) - rsi of moving average)
- usual set of average types can be used for price filtering :
- 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
Ehlers fisher transform of smoother RSI
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