Fisher Multi-Pack [DW]

This is an experimental study designed to visualize price activity using John Ehlers Fisher Transform and Inverse Fisher Transform methods.

The Ehlers Fisher Transform is a variation of R. A. Fisher's Z transformation.

In this study, there are five oscillator types to choose from:
-Fisher Transform Indicator - A conversion of price's probability distribution to a Gaussian normal distribution with a smoother output
-Inverse Fisher Relative Strength Index - Converts the RSI's distribution to a bounded distribution between 1 and -1 with a smoother output
-Inverse Fisher Stochastic Oscillator - Converts the Stochastic's distribution to a bounded distribution between 1 and -1 with a smoother output
-Inverse Fisher Commodity Channel Index - Converts the CCI's distribution to a bounded distribution between 1 and -1 with a smoother output
-Inverse Fisher Blast Off Momentum - Converts the BOM's distribution to a bounded distribution between 1 and -1 with a smoother output

The study uses a modified set of Bollinger Bands applied to the chosen oscillator to determine trend and impulse activity, which are highlighted by the color scheme.

Custom bar colors are included.
Release Notes: Updates:

Cleaned up the script. Removed clutter.

Removed Inverse Fisher BOM from the oscillator types due to an excessive amount of false readings.

Thresholds are no longer Bollinger Bands. Instead, they are calculated using a cumulative average of the oscillator's deviation from 0.

Minor aesthetic changes.
Release Notes: Updates:

-> Reorganized script structure.
-> Main calculations are now expressed as functions.
-> Added custom threshold inputs.
-> Added an option to compress the oscillator around thresholds by a specified level of intensity. (Most useful with Fisher Transform oscillator type.)
-> Revamped color scheme.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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Hello, this is one of the best indicator that cacthses signals before the other ones.
+4 Reply
daragiuf Balabiott
@Balabiott, how you use it for entries/exits ?
man really cool stuff

love your design work.
+3 Reply
Helo, looks bit different from FTransform scripts around the TV. I would say it is showing exhaustion little sooner.
As i am no-math person could you explain in few words what is the difference from the regular FTransform ?
+2 Reply
Nice works, and it's look very beautiful too, thanks for your efforts and generous
+2 Reply
Donovan, always quality work from you, nicely done!
+1 Reply
Thanks for the script, any reason why you are calculating Fisher in a different way than is done in TradingsView fisher transform?
bVll bVll
@bVll, Never mind, I figured the code is identical, it's just that you have Close as the default source whereas others have hl2
Feeling magical with such a wonderful intellectual workout.

Thanks. God bless you
Hi, this is really cool. I have a question, why does it show a flat line when I apply this indicator to ALT-BTC pairs? It seems its working on USDT pairs mostly that doesnt have a lot of decimals. Most of the BTC pairs are also showing a flat line.