Limited Fisher Transform

faytterro Updated   
what is Limited Fisher Transform?
This indicator is a compressed version of the Fisher transform indicator between 100 and 0 values.

what it does?
It allows us to define overbought and oversold zones by compressing the values ​​of the "fisher transform" indicator between 0 and 100. also these zones are the same for every timeframe and trading pair, just like RSI.

how it does it?
it use this formula: x = fisher transform values
a = average

how to use it?
its use is indistinguishable from the standard fisher. You can use it to set alarms for overbought and oversold zones. so you will be notified when a possible opportunity arises in the market.

Release Notes:
barcolor and bgcolor options added.
Release Notes:
no longer gives consecutive buy and sell signals, limited to once at "length" bars only.
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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