Function Fisher Transform V1 — Indicator by RicardoSantos

fisher function

added ability for selecting src to the fisher() function. now can be used with rsi/stoch/macd/etc...

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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Want to use this script on a chart?

study(title="Function Fisher Transform V1", shorttitle="F")
window01 = input(12)
window02 = input(48)
window03 = input(144)

f_fisher(_src, _window)=>
    _h = highest(_src, _window)
    _l = lowest(_src, _window)
    _value0 = .66 * ((_src - _l) / max(_h - _l, .001) - .5) + .67 * nz(_value0[1])
    _value1 = _value0 > .99 ? .999 : _value0 < -.99 ? -.999 : _value0
    _fisher = .5 * log((1 + _value1) / max(1 - _value1, .001)) + .5 * nz(_fisher[1])

r = rsi(close, 5)
fish1 = f_fisher(r, window01)
fish2 = f_fisher(r, window02)
fish3 = f_fisher(r, window03)

hline(1.5, color=black)
hline(0, color=black)
hline(-1.5, color=black)
plot(fish1, color=blue, title="Fast")
plot(fish2, color=black, title="Normal")
plot(fish3, color=red, title="Slow")