Ehlers Inverse Fisher Transform of RSI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

Ehlers inverse Fisher transform of RSI.

You can choose between floating or fixed levels. If the floating level period is set to <=1, fixed levels are calculated. The float level is calculated if the period of the float level is set to > 1. Based on these levels, you can choose how to change/adjust the color, and accordingly how and when the alert is triggered. In addition to multiple time frames, the usual set of alerts is available (alert message, sound, email, push notification on the bar that is still open or the first to close).

Since the inverse Fisher Transform of RSI is designed to enhance extreme situations (overbought and oversold areas), combined with floating levels and all different types of RSI, this version allows faster and clearer trend detection and identification. With additional smoothing, false signals can be avoided. As with any other indicator, some experimentation with parameters is recommended (in order to find the best settings for a symbol/timeframe pair).

Attachment download

📎 ehlers_inverse_fisher_transform_3.mq5 (50.18 KB)

Source: MQL5 #16963