Fisher Transform with Up/Down colours - squattter - V2 — Indicator by squattter

Colours change faster now using the white line as reference rather than the bars.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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//Credit to HPotter for the colour code.
study(title="Fisher Transform with Up/Down colours - squattter")
len = input(34, minval=1, title="Length")
high_ = highest(hl2, len)
low_ = lowest(hl2, len)
round_(val) => val > .99 ? .999 : val < -.99 ? -.999 : val
value = round_(.66 * ((hl2 - low_) / max(high_ - low_, .001) - .5) + .67 * nz(value[1]))
fish1 = .5 * log((1 + value) / max(1 - value, .001)) + .5 * nz(fish1[1])
fish2 = fish1[1]

hline(0, color=white, linewidth=2)

fush = fish2
cClr = fish1 > fish1[1] ? aqua : blue
plot(fush, style=columns, linewidth=1, color=cClr)

plot(fish1, color=white, transp=0, linewidth=2, title="Fisher")