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Fisher Transform

Formula for: MetaStock

Views: 1455

Added: June 27, 2007

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The indicator described in "Using The Fisher Transform" by John Ehlers in this issue can be easily recreated in MetaStock 6.52 or higher. To create a formula in MetaStock, select Indicator Builder from the Tools menu, click New, enter the code for the formula, and then click OK. Repeat for the remaining formulas.
This indicator has two formulas. One plots the Fisher transform and its signal line. The second plots the transform and its rate of change multiplied by 10. The formulas are:

Code:

Transform with Signal

pr:=(H+L)/2;
len:=10;
maxh:=HHV(pr,len);
minl:=LLV(pr,len);
val1:=.33*2*((pr-minl)/(maxh-minl)-.5)+.67*PREV;
value1:=If(val1>.99,.999,If(val1<-.99,-.999,val1));
fish:=.5*Log((1+value1)/(1-value1))+.5*PREV;
fish;
Ref(fish,-1);

Transform with Rate of Change

Author: Fisher Transform
Source: http://www.traders.com

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