OPEN-SOURCE SCRIPT
Triple EMA (TEMA) + Fisher Transform / Owl of Profit
Triple EMA (TEMA) + Fisher Transform Strategy
This strategy combines the Triple Exponential Moving Average (TEMA) and Fisher Transform to identify trend and momentum-based entry and exit signals.
Features:
Triple EMA (TEMA):
A smoothed trend-following indicator designed to reduce lag.
Length: 21 (default).
Helps identify trend direction and crossover signals.
Fisher Transform:
Converts price movements into a Gaussian normal distribution.
Length: 10 (default).
Smoothing: Optional smoothing is applied to reduce noise.
Entry and Exit Logic:
Long Condition:
Price crosses above the TEMA line.
Fisher Transform crosses above 0.
Short Condition:
Price crosses below the TEMA line.
Fisher Transform crosses below 0.
Exit Long:
Price crosses below the TEMA line.
OR Fisher Transform crosses below 0.
Exit Short:
Price crosses above the TEMA line.
OR Fisher Transform crosses above 0.
Visualization:
TEMA:
Plotted in blue on the price chart to show trend direction.
Fisher Transform:
Plotted in red on a separate pane, with a dotted zero line for reference.
Zero Line:
A horizontal line at 0 helps visualize Fisher Transform crossovers.
Customization:
Adjustable TEMA and Fisher Transform lengths to fit different market conditions.
Optional smoothing for Fisher Transform to reduce noise.
This strategy is ideal for traders looking to combine trend-following and momentum-based signals for precise entries and exits.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
This strategy combines the Triple Exponential Moving Average (TEMA) and Fisher Transform to identify trend and momentum-based entry and exit signals.
Features:
Triple EMA (TEMA):
A smoothed trend-following indicator designed to reduce lag.
Length: 21 (default).
Helps identify trend direction and crossover signals.
Fisher Transform:
Converts price movements into a Gaussian normal distribution.
Length: 10 (default).
Smoothing: Optional smoothing is applied to reduce noise.
Entry and Exit Logic:
Long Condition:
Price crosses above the TEMA line.
Fisher Transform crosses above 0.
Short Condition:
Price crosses below the TEMA line.
Fisher Transform crosses below 0.
Exit Long:
Price crosses below the TEMA line.
OR Fisher Transform crosses below 0.
Exit Short:
Price crosses above the TEMA line.
OR Fisher Transform crosses above 0.
Visualization:
TEMA:
Plotted in blue on the price chart to show trend direction.
Fisher Transform:
Plotted in red on a separate pane, with a dotted zero line for reference.
Zero Line:
A horizontal line at 0 helps visualize Fisher Transform crossovers.
Customization:
Adjustable TEMA and Fisher Transform lengths to fit different market conditions.
Optional smoothing for Fisher Transform to reduce noise.
This strategy is ideal for traders looking to combine trend-following and momentum-based signals for precise entries and exits.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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