The Fisher Transform is a technical indicator that converts prices into a Gaussian normal distribution. In this way, the indicator highlights when prices have moved to an extreme, based on recent prices. This may help in spotting turning points in the price of an asset. It also helps show the trend and isolate the price waves within a trend.
View of the indicator on the chart:
To add and customize this indicator, you need to open the Indicator Settings Window.
Panel – selection of the indicator position on the chart:
- New panel.
Show value – display of the indicator value on the left on the price scale.
Scale – if this option is on, the scale is calculated automatically based on the minimum and maximum values of the indicator to fit the latter in the chart.
Color - color setup of the indicator.
Visual type - visual setup of the indicator display on the chart:
- Up arrow
- Down arrow
- Axis label
Line style – setup of the line display:
Width – width setup for the indicator line.
For Fisher item settings are same.
Period - setup of the indicator calculation period.
Show description of indicator
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