OPEN-SOURCE SCRIPT
LTF Fisher Transform - AYNET
John F. Ehlers is a renowned figure in the field of financial markets and technical analysis. With a strong background in engineering and digital signal processing (DSP), Ehlers has applied his expertise to the development of innovative technical indicators and trading systems. His work focuses on using mathematical concepts, particularly those from signal processing, to analyze financial data. THANKS.
Detailed Explanation of Code: "LTF Fisher Transform"
This code calculates the Fisher Transform on a lower timeframe (LTF) and visualizes it on the current timeframe. It includes bands to identify overbought/oversold conditions, fills the area between these bands for visualization, and generates momentum signals (bullish or bearish) based on the Fisher Transform's position relative to the bands.
Key Features of the Code
Fisher Transform Calculation on a Lower Timeframe
Applies Fisher Transform on a user-specified lower timeframe.
Captures short-term momentum shifts.
Overbought and Oversold Levels
Defines custom thresholds for momentum analysis using user-defined bands.
Visual Enhancements
Visualizes momentum zones (neutral, bullish, bearish) using filled areas and dynamic shapes.
Momentum Signal Generation
Identifies bullish and bearish momentum conditions when Fisher Transform exceeds bands.
Detailed Explanation of Code: "LTF Fisher Transform"
This code calculates the Fisher Transform on a lower timeframe (LTF) and visualizes it on the current timeframe. It includes bands to identify overbought/oversold conditions, fills the area between these bands for visualization, and generates momentum signals (bullish or bearish) based on the Fisher Transform's position relative to the bands.
Key Features of the Code
Fisher Transform Calculation on a Lower Timeframe
Applies Fisher Transform on a user-specified lower timeframe.
Captures short-term momentum shifts.
Overbought and Oversold Levels
Defines custom thresholds for momentum analysis using user-defined bands.
Visual Enhancements
Visualizes momentum zones (neutral, bullish, bearish) using filled areas and dynamic shapes.
Momentum Signal Generation
Identifies bullish and bearish momentum conditions when Fisher Transform exceeds bands.
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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