. . .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)

. . . more on Charts 

. . . more on 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.

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.
 

For more information on technical indicator adjustment, click here.
 

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