asterbots

Victoria

This indicator visualises different oscillators processed through Inverse Fisher Transform

What is included:
  • Inverse Fisher Transform on different oscillators
  • You can combine multiple oscillators into one
  • The combination of sources can be calculated in different ways
  • Set different buy and sell signal thresholds
  • View selected thresholds in the chart
  • Use TradingView Technicals Buy and Sell signals to dynamically change threshold values
  • Convert signal to alerts
  • Multiple filters to allow or block signals
  • Backtest compatible
  • Alerts compatible

Two different chart modes:
  • You can view multiple oscillators in the same chart
  • You can view trade signals/alerts on the chart from the thresholds you have selected

Description:
With this indicator you're able to visually review the signal strength of one or multiple oscillators processed with Inverse Fisher Transform ( IFT ), combine them and choose the method of calculation when they are combined. This produces a signal which strongly fluctuates between -1 and +1 instead of the more common 0-100 most oscillators uses. The intention is to make the decision making clearer and easier when you decide when to enter or exit a trade. This aims to help you remove the feelings from your trading.

Inverse Fisher Transform was first presented by John Ehlers in Stocks & Commodities V. 22:5 where he proposes to process RSI with the formula for hyperbolic tangent, tanh (x). This transforms the oscillator into a smoother and more compressed version with quicker oscillations.

Within a bull or bear period of the traded asset the signal have different strengths. To harness this to our advantage we use the combined strength of the TradingView Technical indicator which gives us a Buy, Strong Buy, Sell or a Strong Sell on the selected timeframe and asset. This makes it possible to delay the buy in bearish conditions to only trigger when it is really oversold and also allow the signal be more relaxed and exit the trade sooner. While on the other hand if the condition is bullish the buy signal is relaxed and the sell requires a stronger signal. All of this is possible to change in the indicator to fine tune the settings for the specific asset and timeframe selected. We also have the possibility of blocking the buy signals with different filters.
Release Notes: Updated alert text to correspond with indicator name for clarity.
Release Notes: Added Absolute Maximum and Absolute Minimum as calculation method for the combined signal. Absolute Maximum uses the value furthest away from the neutral center (+-0) regardless of if it's a positive or negative value. Inverse is true for Absolute Minimum.
Release Notes: **New: Skip signals**
Skip amount of buy or sell signals after the opposite signal. Example: If SELL is the latest signal and is selected = the first BUY is ignored.

**New: Dynamic Alerts**
You can let the indicator create and send the alert message dynamically. Meaning you can use just one alert for both the buy and sell messages.

**Improved: Trend Filter**
Choose ticker for the TradingView Technical Rating Filter. It blocks buy signals if trend is not BUY/STRONG BUY label on the selected token & timeframe. If no ticker is selected the current is used. BTC, TOTAL2 & SPX can be used here along with any other token on TradingView.

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Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact asterbots for more information, or follow the author's instructions below.

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Author's instructions

You can use this script by becoming a VIP member of https://patreon.com/thetradingparrot, join our discord community at https://discord.gg/aXD8NGpyuc

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