Ehlers Fisher Transform (Original) - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources

The Ehlers Fisher transform has long been miscoded (as in the famous "solar wind") or miscoded due to wrong information. Some errors are coder errors (such as the "Solar Wind" case). But some of it was John Ehlers himself. In his book, he introduces a formula on page 7 when displaying the TS code, and just one page later, when displaying the EFS code, the formula changes. The difference is that in the EFS formula he sets the initial highest high and lowest low to the high and lowest of the current bar and then checks if the price exceeds these initial values, whereas in the TS code there is no initial value assignment at all. The difference may not seem big, but it's there, and the end result is different (sometimes dramatically).

Allows you to choose between two modes: a mode that does not include the high/low of the current bar (default) and a mode that includes these prices.

You can use the color change of the signal.

Comparison of the two modes - TS mode on the top and EFS mode on the bottom. In general, the EFS mode (when the current bar high and low are included in the calculation) tends to lag behind the TS mode.

Attachment download

📎 ehlers_fisher_transform_aoriginalw.mq5 (8.67 KB)

Source: MQL5 #23160