<< Back to MetaTrader Forex Indicators List
Fisher
Fisher MetaTrader indicator is a quite simple
histogram indicator that detects direction and strength of the trend and signals
trend changes. It doesn't use any standard MT4/MT5 indicators in its code. Fisher
bases its calculations on the maximum and minimum price levels from the previous
periods, applying some advanced math calculations to the relations between the
current price and the max/min prices. The indicator is available for both MT4 and MT5.
This is a "repainting" indicator it recalculates previous bars when
the new bar has arrived.
Input parameters:
- period (default = 10) the period in bars, on which
to calculate the maximum and minimum. The higher is the value the less false
trend change signals occur but the more this indicator lags.
On the chart example you see that the upward trends are marked with the green
histogram lines, while the downward trends are marked with the red line. It's
easy to trade with this indicator. You can close short positions and go long
when the lines' color change from red to green. You can close long positions and
go short when the lines' change from green to red. With the default period
setting (10) it was very accurate on EUR/USD H1 chart.
Downloads:
Fisher for MetaTrader 4 in .zip
Fisher for MetaTrader 4 in .mq4
Fisher for MetaTrader 5 in .zip
Fisher for MetaTrader 5 in .mq5
Discussion:
Warning! Before you ask any basic questions regarding installation of
the indicators, please, read this
MetaTrader 4 Indicators Tutorial or MetaTrader 5 Indicators Tutorial
to get the elementary knowledge on handling them.
Do you have any suggestions or questions regarding this indicator? You can
always
discuss Fisher with
the other traders and MQL programmers on the indicators forums.
|