Limited Fisher Transform

what is Limited Fisher Transform?
This indicator is a compressed version of the Fisher transform indicator between 100 and 0 values.

what it does?
It allows us to define overbought and oversold zones by compressing the values of the "fisher transform" indicator between 0 and 100. also these zones are the same for every timeframe and trading pair, just like RSI.

how it does it?
it use this formula: https://www.tradingview.com/x/sTVRCUo3/
x = fisher transform values
a = average

how to use it?
its use is indistinguishable from the standard fisher. You can use it to set alarms for overbought and oversold zones. so you will be notified when a possible opportunity arises in the market.

https://www.tradingview.com/x/BdeHRx9k/

릴리즈 노트

barcolor and bgcolor options added.

릴리즈 노트

no longer gives consecutive buy and sell signals, limited to once at "length" bars only.

오픈 소스 스크립트

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.