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.
Notes de version
⋅
barcolor and bgcolor options added.
Notes de version
⋅
no longer gives consecutive buy and sell signals, limited to once at "length" bars only.
Great work. Can you make it where the buy/sell signals appear above and below the candles? I combined the indicator to the chart and the labels are placed in a funky position due to the scale.
faytterro
⋅
@Kilamo, unfortunately tradingview does not allow this. There are two different types of scripts: those that appear in a separate window and those that appear in the same window. You have to choose one of the two and show all your work in the same window. however, I can break this rule with the barcolor function, but it is not very clear and I do not want to distort the original colors of the bars.
I did my best for you and added barcolor and background color options to the style settings. I hope I could help.
xXDigital_GangsterXx
⋅
Gone fishing BRB! very interesting so far on the 1 1minute.
Staggy_
⋅
does it repaint?
lazycat526
⋅
thank you for sharing
ThanosRising
⋅
Thank you for latest update
unknownxtrader
⋅
Hi mate, Can i use your (0, 100) limitation formula in my script without license or attribution? Thanks...
faytterro
⋅
@unknownxtrader, yes, you can; but I'd be happy if you still write my name somewhere
Gabison
⋅
hi, thank you very much for this indicator. can you please add a "change direction" alert ?