LazyBear

3 more indicators: Inverse Fisher on RSI/MFI and CyberCycle

Suggested by John Ehlers , IFT helps you to determine the exact oversold/overbought points in any oscillator-type indicators.

The 3 IFT based indicators in this chart are:
- Inverse Fisher on RSI (IFTRSI)
- Inverse Fisher on MFI (IFTMFI)
- Inverse Fisher on CyberCycle (IFTCC)

Suggested method to use any IFT indicator is to buy when the indicator crosses over –0.5 or crosses over +0.5 if it has not previously crossed over –0.5 and to sell short when the indicators crosses under +0.5 or crosses under –0.5 if it has not previously crossed under +0.5.

More info: http://www.mesasoftware.com/Papers/THE%20INVERSE%20FISHER%20TRANSFORM.pdf

You can use these indicators by doing "Make it mine" (Click on "Share" to open the dialog box with this button).

Let me know what you think, would love to hear how these indicators are used and how effective these are for other instruments.
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//
// @author LazyBear
// If you use this code in its orignal/modified form, do drop me a note. 
// 
study("Inverse Fisher Transform RSI [LazyBear]", shorttitle="IFTRSI_LB")
s=close
length=input(14, "RSI length")
lengthwma=input(9, title="Smoothing length")

calc_ifish(series, lengthwma) =>
    v1=0.1*(series-50)
    v2=wma(v1,lengthwma)
    ifish=(exp(2*v2)-1)/(exp(2*v2)+1)
    ifish

plot(calc_ifish(rsi(s, length), lengthwma), color=orange, linewidth=2)
hline(0.5, color=red)
hline(-0.5, color=green)
Hey Lazy Bear thanks for the code. Really helpful. I came across a MQL code on fisher transform with floating levels (https://www.mql5.com/en/code/16963) and seems interesting. Do you think this makes the trend more clear?
Reply
WTF make it mine isn't an option anymore. FFS.

Any chance you're still around LB?
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Hey Lazy Bear I just joined and really like your dedication to this and the excellent work. I saw the IFTRSI however, I cannot find the other two ( CC and MFI) Thanks again
+3 Reply
snapshot


Also having problems changing the Length
+2 Reply
QuantitativeExhaustion QuantitativeExhaustion
Alpha does change chart reading, however length is not adjusting
+2 Reply
QuantitativeExhaustion QuantitativeExhaustion
Sorry, forgot to mention it's CCI Inverse that's having the problem with changing length reading. Everything else works great.
snapshot

Changed Length with Inverse RSI/Fisher + smoothing. Changed alpha for CCI inverse which worked, and length did not change with the chart.
+3 Reply
LazyBear PRO QuantitativeExhaustion
Yes..."length" is not used in IFTCC. Only configurable param is "alpha".
+2 Reply
new one for you LazyBear Beta with a benchmark (vs Exchange of the underlying) and Index
+2 Reply
Very nice> Use this for shorting puts
+2 Reply
I'm going to try more test on this one
+5 Reply
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