Ehlers fisher transform of smoother RSI – indicator MetaTrader 5
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Basics:
Original Ehlers fisher transform is using an adjusted RSI in a fisher transform calculation in order to further normalize and emphasize the RSI values in order to be able to spot market conditions in easier way.
This version:
It is adding 2 steps:
floating levels usage option
in case that the floating level is not to be used, setting the floating level period to less than or equal to 1 will turn the level from floating to fixed levels
smoothing the RSI value (and that way it filters some of the possible insignificant changes
usual set of average types can be used for smoothing :
simple moving average (SMA)
exponential moving average (EMA)
smoothed moving average (SMMA)
linear weighted moving average (LWMA)
Usage:
You can use the color changes of the indicator as signals.
