Solarwind No Repaint
- Indicators
-
Arinze Michael Ejike
We develop trading strategies into custom indicators and algorithmic solutions for ForexTester6, CTrader, MetaTrader 4, and MetaTrader 5.
Our focus is building indicators, custom libraries, and trading utilities that reveal market patterns others miss. - Version: 1.0
The Solarwind No Repaint is a technical oscillator that applies the Fisher Transform to normalized price data, creating a histogram-based indicator that identifies potential market turning points. This indicator converts price movements into a Gaussian normal distribution, making cyclical patterns and momentum shifts more visible to traders.
How It Works The indicator processes price data through several computational steps:
- High-Low Analysis: Calculates the highest high and lowest low over the specified period
- Price Normalization: Takes the midpoint of each bar's high-low range and normalizes it against the period's range, scaling values between -1 and +1
- Fisher Transform Application: Applies the mathematical Fisher Transform formula 0.5 * ln((1+x)/(1-x)) with smoothing
- Trend Signal Processing: Generates directional signals based on value changes and momentum thresholds
Key Features
- Histogram Display: Renders as colored bars in a separate indicator window
- Trend-Based Coloring: Green bars for bullish momentum, red bars for bearish momentum
- No-Repaint Design: Uses completed bars only to prevent signal changes on current bar
- Adaptive Sensitivity: Configurable threshold system to filter market noise
- Signal Persistence: Maintains trend direction until significant momentum shift occurs
Parameters
- Period: Lookback period for high-low calculations (default: 10)
- Signal Sensitivity: Change threshold required for new signals (default: 0.05)
- Use Completed Bars: Prevents repainting by using only finished bars (default: true)
- Use Alert: Enables notification system for signal changes (default: false)
- Histogram Width: Visual thickness of histogram bars (default: 2)
Trading Applications
- Momentum Assessment: Identifies strength and direction of price momentum
- Reversal Detection: Extreme readings often precede trend changes
- Trend Confirmation: Validates price action with momentum analysis
- Cycle Analysis: Effective for identifying cyclical market behavior
- Entry Timing: Provides specific bar-by-bar directional bias
Interpretation
- Green Bars: Bullish momentum phase - favor long positions
- Red Bars: Bearish momentum phase - favor short positions
- Neutral Bars (faded colors): Weak momentum - trend uncertainty
- Zero Line: Reference point for momentum direction changes
- Extreme Values: Readings beyond ±2 may signal potential reversals (based on params)
The Solarwind No Repaint performs optimally in markets with clear cyclical behavior and works effectively as a momentum filter when combined with price action analysis or other technical indicators for trade confirmation.
