anoojpatel

Fisher Transform Ribbons Indicator V1.0

Utilizing the Fisher Transform by Ehlers with different lengths based on multipliers will allow you to notice movements in price and understand whether the shift was a correctional wave, or part of the overall trend.

To learn about Fisher Transform , check out the Fisher Transform documentation: https://www.mesasoftware.com/papers/Usin...



Fisher has plenty of functionalities. Ribbons provides you with a view of consistency in price action. If all ribbons flip, generally this is a strong signal that the trend is changing. Fisher is extremely punctual (minimum input lag) and robust (doesn't miss movement). Look for everything, including divergences, trends, and Oversold, Overbought points.

Changing length will further provide you more sensitivity in overselling and buying, while numbing chop.

Enjoy!





And for a single Fisher, check out HPotter's Fisher Transform or LazyBear's implementation of the inverse of the Fisher, which has many other interesting properties
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.

Want to use this script on a chart?

Comments

ALSO IF YOU STUMBLE UPON THIS INDICATOR THROUGH A PAID GROUP, YOU'RE DOING IT WRONG. DON'T WASTE YOU TIME TO BE LEAD BY THE BLIND, AND PAY FOR VISION. Join a group that values teaching you to see. If they make more money from teaching than trading, are they good at trading?
+4 Reply
futuremihai anoojpatel
@anoojpatel, Real talk dawg
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Well done!
+1 Reply
this is wonderful thank you!
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