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Fisher Transform - indicator for MetaTrader 5

Witold Wozniak | English Русский 中文 Español Deutsch 日本語 Português

Published by:
Nikolay Kositsin
votes: 20
2011.11.16 16:47
2016.11.22 07:32

Real author:

Witold Wozniak

The indicator is inspired by John Ehlers' article "Using The Fisher Transform" published in November 2002 in the "Technical Analysis Of Stock & Commodities" magazine.

The indicator is based on the assumption that the price does not have Gaussian density but something similar can be created by normalizing the price and applying Fisher Transform. As a result, fluctuation tops will definitely show price reversals. The recommended period is equal to 10.

Fisher indicator calculates minimum and maximum price levels in previous history, determines direction of a trend and forecasts its reversal. Fisher can be especially useful as a basic indicator trend in a trading system. Fisher positive value is a first buy signal, while negative value forms a sell signal. It is possible to find optimal period for maximums and minimums calculation (the only Fisher indicator parameter) to avoid false signals.

Fisher (red) and Trigger (blue) lines crossings may also be used similar to Stochastic Oscillator signals.

See also the article "Applying The Fisher Transform and Inverse Fisher Transform to Markets Analysis in MetaTrader 5".

Fisher Transform

Translated from Russian by MetaQuotes Software Corp.
Original code:

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