Fisher Transform Strategy — Indicator by LastBattle

fisher transform fishertransform macd sharp fish michael buhler

Direct port of the original Fisher Transform to TradingView:

This might be better suited to be combined with other indicator to be effective, such as the Fisher Transform of RSI.

I hope you have found this useful :) Happy trading.
Thanks to @MikeLloyd for referring me to this, and here's my port for you.

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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

study(title="Fisher Transform (LastBattle)", shorttitle="Fisher (LastBattle)")

/// Define graph data
src = close
src_high = high
src_low = low

/// User input length
fisherlen = input(21, minval=1, title="Fisher Length")

// Fisher
Price = (src_high + src_low) / 2
MaxH = highest(src_high, fisherlen) 
MinL = lowest(src_low, fisherlen)

Value1 = max(-0.9999, min(0.9999, 0.5 * 2 * ((Price - MinL) / (MaxH - MinL) - 0.5) + 0.5 *  nz(Value1[1])))

Fish = 0.25 * log((1 + Value1) / (1 - Value1)) + 0.5 * nz(Fish[1]) 

/// Plot
plot(Value1, color=green)
plot(nz(Fish[1]), color=red) // trigger/signal line

// Background color
//sellSignal = (nz(Fish[1]) < -0.3 and nz(Fish[1]) > 0.9 * nz(Fish[1]))
//bgcolor(sellSignal ? red : white, transp=90)

// Band range
band_green_top = hline(.6999)
band_green_bottom = hline(.9999)
fill(band_green_top, band_green_bottom, color=green, transp=90)

band_red_top = hline(-.6999)
band_red_bottom = hline(-.9999)
fill(band_red_top, band_red_bottom, color=red, transp=90)