Description
The FW_FisherTransformer study helps time changes in a trend by transforming price and stochastics using a statistical method called Fisher Transform. The original Fisher Transform and the three transformed stochastics work together to provide both early warning and later confirmation of a trend change. This works for all time periods and tick charts.
Input Parameters
| Parameter | Description |
|---|---|
fisher len
|
The number of bars used in calculation of Fisher Transform. |
obos
|
Defines the position of overbought and oversold lines, in percent. |
hide soap
|
Defines whether or not to hide vertical lines for SOAP signals. |
Plots
| Plot | Description |
|---|---|
FT
|
The Fisher Transform plot. |
FS5x3
|
The Fisher Transform of the Stochastic with K period of 5 and slowing period of 3. |
FS8x5
|
The Fisher Transform of the Stochastic with K period of 8 and slowing period of 5. |
FS17x5
|
The Fisher Transform of the Stochastic with K period of 17 and slowing period of 5. |
Obl
|
The overbought level. |
Osl
|
The oversold level. |
ZeroLine
|
The zero level. |
FTu
|
The arrows marking reversals of FT from falling to rising. |
FS5x3u
|
The arrows marking reversals of FT5x3 from falling to rising. |
FS8x5u
|
The arrows marking reversals of FT8x5 from falling to rising. |
FS17x5u
|
The arrows marking reversals of FT17x5 from falling to rising. |
FTd
|
The arrows marking reversals of FT from rising to falling. |
FS5x3d
|
The arrows marking reversals of FT5x3 from rising to falling. |
FS8x5d
|
The arrows marking reversals of FT8x5 from rising to falling. |
FS17x5d
|
The arrows marking reversals of FT17x5 from rising to falling. |
See also
thinkorswim® users have the opportunity to watch a seminar explaining principles of this indicator, narrated by David Elliott.
This seminar can be found at Support/Chat -> Seminars; "He's back! David Elliott showcases his new studies" released on March 4, 2010.
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.