DonovanWall

Fisher Multi-Pack [DW]

This is an experimental study designed to visualize price activity using John Ehlers Fisher Transform and Inverse Fisher Transform methods.

The Ehlers Fisher Transform is a variation of R. A. Fisher's Z transformation.

In this study, there are five oscillator types to choose from:
-Fisher Transform Indicator - A conversion of price's probability distribution to a Gaussian normal distribution with a smoother output
-Inverse Fisher Relative Strength Index - Converts the RSI's distribution to a bounded distribution between 1 and -1 with a smoother output
-Inverse Fisher Stochastic Oscillator - Converts the Stochastic's distribution to a bounded distribution between 1 and -1 with a smoother output
-Inverse Fisher Commodity Channel Index - Converts the CCI's distribution to a bounded distribution between 1 and -1 with a smoother output
-Inverse Fisher Blast Off Momentum - Converts the BOM's distribution to a bounded distribution between 1 and -1 with a smoother output

The study uses a modified set of Bollinger Bands applied to the chosen oscillator to determine trend and impulse activity, which are highlighted by the color scheme.

Custom bar colors are included.
Release Notes: Updates:

Cleaned up the script. Removed clutter.

Removed Inverse Fisher BOM from the oscillator types due to an excessive amount of false readings.

Thresholds are no longer Bollinger Bands. Instead, they are calculated using a cumulative average of the oscillator's deviation from 0.

Minor aesthetic changes.
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Helo, looks bit different from FTransform scripts around the TV. I would say it is showing exhaustion little sooner.
As i am no-math person could you explain in few words what is the difference from the regular FTransform ?
+1 Reply
man really cool stuff

love your design work.
+2 Reply
Donovan, always quality work from you, nicely done!
+1 Reply
Nice works, and it's look very beautiful too, thanks for your efforts and generous
+1 Reply
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