For this chart I utilized the Fisher Transform of the On Balance Volume (OBV) to identify common patterns not particularly discoverable by looking at price alone.
Notice I do not portray a forecast using the same candle movement as when the fisher pattern indicates a repeating trend. This is because the price action will
most likely not follow the same historical price pattern.
What the Fisher Transform has identified for us is a common wind up characteristic only seen by a Gaussian normal distribution of the action. In this way, the indicator highlights
when prices have moved to an extreme, based on recent prices. In this case we are considering the On Balance Volume (OBV).
Note that this is simply an idea and should not be taken as a prediction with targets.
You can see the efficacy of this indicator by looking at the following charts which were intended with price prediction in mind.
Notice I do not portray a forecast using the same candle movement as when the fisher pattern indicates a repeating trend. This is because the price action will
most likely not follow the same historical price pattern.
What the Fisher Transform has identified for us is a common wind up characteristic only seen by a Gaussian normal distribution of the action. In this way, the indicator highlights
when prices have moved to an extreme, based on recent prices. In this case we are considering the On Balance Volume (OBV).
Note that this is simply an idea and should not be taken as a prediction with targets.
You can see the efficacy of this indicator by looking at the following charts which were intended with price prediction in mind.
