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Investor/RT Tour ( more on Technical Indicators )
Fisher Transform (FISH)
The Formula . . . 

. . .more on Formulas 

 

FISH = 0.5*LOG((1+Value)/(1-Value))+0.5*FISH.1
Value = 0.33*2*((Price - MinLo)/(MaxHi - MinLo) - 0.5)+0.67*Value.1
MinLo = Min(Lo, Period)
MaxHi = Max(Hi, Period)
Price = User Specified (Hi+Lo/2 is recommended)
Period = User Specified (10 is recommended)

 
The Presentation . . . 

. . . more on Charts 

Fisher Transform Chart

 
The Preferences . . . 

. . . more on Preferences 

Fisher Transform Preferences

  • Price - Price value used as input for the computation.  Options include Open, Close, High, Low, HI+LO/2, HI+LO+CL/3, O+H+L+C/4, %Change, or OP+CL/2.

  • Period - Period used to compute the maximum high and minimum low in the calculation above.

 
The Description . . .

Fisher Transform (FISH) is based on the article "Using The Fisher Transform" by John Ehlers that will be available in the November 2002 issue of Stocks and Commodities Magazine.  FISH has sharp and distinct turning points that occur in a timely fashion.  It is based on the assumption that prices do not have a Gaussian probability density function (PDF), but you can create a nearly Gaussian PDF for prices by normalizing price, or an indicator such as RSI, and applying the Fisher Transform.  The resulting peak swings clearly identify price reversals.
 

Keyboard Adjustment . . .
The Fisher Transform period can be adjusted directly from the keyboard without having to open up the preferences window.  Just select the indicator and then hit the up or down keys on your keyboard to adjust the period.  The up arrow key increases the period by 1 while the down arrow key decreases the periods by 1. 

For more information on technical indicator adjustment, click here.
 

RTL Token . . . FISH ( more )

The Fisher Transform can be referenced in the RTL language using the token FISH.  To scan for the bullish signal (swing low) of the FISH turning up below the -1 line, use the following syntax:

FISH < -1 AND FISH > FISH.1 AND FISH.1 <= FISH.2

And to scan for the bearish signal (swing high) of FISH turning down above the 1 line, use the following syntax:

FISH > 1 AND FISH < FISH.1 AND FISH.1 >= FISH.2