Fisher Transform Multi-Timeframe

Plots the multi-timeframe version of the fisher transform . When the desired interval is less than the chart interval, the intermediate values of the transform will be displayed.
Release Notes: Fixed error in final smoothed fisher transform.

  • Added bar coloring for convenience.
  • Added zero line.

See calculation here:
See use cases here:
Release Notes: Matched default values to Trading View built in Fisher Transform indicator. You should see identical values.
Release Notes:
  • Added some basic trending functions to show the trend and prevent whipsaws. The trend can only change at the last candle of the fisher transform desired interval.
Release Notes:
  • Added alert conditions for trend changes.
Release Notes:
  • Fixed bugs.

Release Notes:
  • Added shading fill to Fisher:Fisher lines .
  • Added SRC price options: Close, HL3, OHLC4
Release Notes:
  • Fixed bug.
Release Notes:
  • Added 4 color themes for convenience
  • Added 2 thresholds that determine both the candlestick color and the fisher trend color
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Hi, what are your setting for the bottom picture to make it look like that? thanks
+1 Reply
Hello mortdiggiddy, your scripts are really amazing!

Is there a typo in line 48?: "OHLC4" ? (op + h + l + close) / 3
3 instead of 4?
+1 Reply
mortdiggiddy BobAndrews
@BobAndrews, Yes thanks, the line should read

p = src == "HL2" ? (h + l) / 2 : src == "HLC3" ? (h + l + close) / 3 : src == "OHLC4" ? (op + h + l + close) / 4 : close
Awesome stuff mortdiggiddy!

Wondering if you convert this to pinescript v4 - I gave it a go without much expertise, but came unstuck converting the array across.
+1 Reply
@aNuFFi, There is no advantage to converting to pine 4.
What do you mean by multi time frame? Just that it works on many different TF?
mortdiggiddy bobbertoswald
@bobbertoswald, If the indicator is set to a higher time frame than the chart (i.e. the chart is 5 min and the fisher transform is set to 60 min), the incremental values for each 5 minute bar are shown. The values which match at the end of the last 5 minute candle in each 60 minute session, i.e. 0:55, 1:55, 2:55, 3:55, etc.

This indicator allows you to view the fisher transform on a lower chart interval when the fisher transform is set to a higher interval, so the ability to view a higher time frame indicator on a lower chart interval.
Hi, congrats for your scripts!
In your examples from the chart, what do you mean by up/down and strong? It is related to 0 line or with brighter color?
@Zekis, I mean that if you were trying to derive a strategy, you could look at a higher time frame fisher transform to see "the trend". The example in the main window is dealing with a 5 minute fisher and a 60 minute fisher. The chart time frame is 60 minutes.
Nice job on this friend, really well done.
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