KT Fisher Transform Indicator
KT Fisher Transform Indicator
MT4 | MT5
Originally the Fisher Transform indicator is an oscillator developed by John F. Ehlers. It converts the asset's price into a Gaussian normal distribution to find the local extremes in a price wave.
KT Fisher Transform indicator is an advanced version of the original Fisher Transform oscillator equipped with divergence detections, crossover alerts, and many more features.
- A light-weighted indicator that efficiently identifies the upward and downward crossovers and marks them using vertical lines.
- It also finds regular and hidden divergences on the Fisher Transform oscillator.
- It works efficiently to detect the sharp reversals in price.
- Traders can also use it for scalping on smaller timeframes.
- All Metatrader alerts included.
Calculation of Fisher Transform indicator
Fisher Transform = ½ * ln [(1 + X) / (1 – X)]
ln is the natural logarithm and X represents the transformation of asset's price to a level between -1 and 1 for ease of calculation.
- Main-line cross above the 0.0 level after touching an extreme negative area.
- Upward crossover of main and signal line either in a positive or negative area.
- Bullish regular or hidden divergence.
- Main-line cross below the 0.0 level after touching an extreme positive area.
- Downward crossover of main and signal line either in a positive or negative area.
- Bearish regular or hidden divergence.
Fisher transforms indicator can be very noisy and provide multiple false signals before the actual reversal takes place. Instead of using it as a standalone indicator, it's best to combine it with other indicators for trade confirmation.
- Period: The integer value used to calculate the Fisher Transform main and signal line.
- Show Vertical Lines: If true, the indicator will draw vertical lines on each upward or downward crossover. To avoid unnecessary clutter, we recommend keeping it off.
- Get Crossover Alerts: If true, the indicator will provide alerts on each crossover.
- Regular/Hidden Divergence: You can turn on/off the divergence detection.
- Indicator Trendlines: If true, the indicator will draw the oscillator's trendlines for each successive divergence.
- Price Trendlines: If true, the indicator will draw the trendlines on the price chart for each successive divergence.
// MQl4 double main_line = iCustom(NULL,0,"KT Fisher Transform Indicator",0,1); double signal_line = iCustom(NULL,0,"KT Fisher Transform Indicator",1,1); double bullish_divergence = iCustom(NULL,0,"KT Fisher Transform Indicator",2,1); double bearish_divergence = iCustom(NULL,0,"KT Fisher Transform Indicator",3,1); if(bullish_divergence>0 && bullish_divergence!=EMPTY_VALUE) // bullish divergence found, do something if(bearish_divergence>0 && bearish_divergence!=EMPTY_VALUE) // bearish divergence found, do something // MQL5 // Arrays double main_line; double signal_line; double bullish_divergence; double bearish_divergence; // handle int indicator_handle = iCustom(NULL,0,"KT Fisher Transform Indicator"); // copying buffers into arrays CopyBuffer(indicator_handle,0,1,1,main_line); CopyBuffer(indicator_handle,1,1,1,signal_line); CopyBuffer(indicator_handle,2,1,1,bullish_divergence); CopyBuffer(indicator_handle,3,1,1,bearish_divergence); main_line; // main_line signal_line; // signal line if(bullish_divergence>0 && bullish_divergence!=EMPTY_VALUE) // bullish divergence found, do something if(bearish_divergence>0 && bearish_divergence!=EMPTY_VALUE) // bearish divergence found, do something
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