The Blahtech Fisher Transform indicator is an oscillator that displays the overbought and oversold areas on the chart. The Fisher Transform algorithm converts prices with any form of distribution to a normal distribution. The end result is a curve with sharp reversal points that can help identify bullish or bearish trends.
Fisher Transform values above 1.6 on the daily chart are considered good areas for reversal trades.
- Configurable variables for calculations
- Customizable alerts and messages
- Periods – the number of iterations used for the calculation
- Apply To-price to calculate
- Close – closing price
- Open – opening price
- High – the highest price
- Low – the lowest price
- Median – median price
- Typical – typical price
- Weighted Close-weighted price
- Disabled – disabled
- Sound Only – Sound Only
- Popup and Sound – pop-up and sound alerts