Fisher mt4 indicator. Precise non-repainting histograms
Several years ago, the Fisher indicator appeared in the public domain, identifying signals with amazing accuracy. It would seem that the long-awaited Grail has been found, but it turned out that it constantly cancels the signals. In principle, on this, it was possible to safely forget about it, but there were enthusiastic programmers who managed to eliminate the redrawing.
At first glance, it may seem that this is another analog of the RSI, but in essence, Fisher is much closer to the CCI, since he can show not only the strength of a currency pair at the current moment, but also recognize trends.
On the other hand, the Fisher accurate non-repainting indicator differs from the popular commodity channel index in its flexibility, in particular, the user is allowed to optimize not one, but as many as three parameters.
The following parameters are available in the indicator settings:
RangePeriod - main calculation period;
PriceSmoothed - index of the settlement price smoothing;
IndexSmoothed is another smoothing index.
It is easy to guess that by increasing the last two coefficients, you can eliminate the market noise, but at the same time, the signals will become delayed. Accordingly, the specific parameters will depend on the task the trader sets for himself.
The Fisher indicator does a good job of identifying long-term trends. For example, when the histogram is above zero, buyers are stronger; if it is in the negative zone, sellers rule the market.
It should be noted that it is better to use long periods and smoothing indices to search for trends since otherwise, the market noise will simply not work normally.
Another type of signals that this indicator generates are signals from overbought and oversold levels. Since the algorithm of this tool is based on Fisher's formulas (this is a well-known mathematician and statistician), within which logarithmic transformations are used, this indicator recognizes local peaks much better than other analogs.
Overbought boundaries are the histogram values above 1.6, and oversold - values below 1.6.
Thus, in spite of the fact that the first paid version of Fisher was blacklisted due to redrawing, this defect was subsequently successfully corrected. The improved version is also free now. Unfortunately, the accuracy of the signals had to be paid for by the speed of their appearance, but now you can optimize strategies based on history without fear of significant errors.
Tip: Can’t open the downloaded archive file (ZIP or RAR)?
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.