LazyBear

3 more indicators: Inverse Fisher on RSI/MFI and CyberCycle

Suggested by John Ehlers , IFT helps you to determine the exact oversold/overbought points in any oscillator-type indicators.

The 3 IFT based indicators in this chart are:
- Inverse Fisher on RSI (IFTRSI)
- Inverse Fisher on MFI (IFTMFI)
- Inverse Fisher on CyberCycle (IFTCC)

Suggested method to use any IFT indicator is to buy when the indicator crosses over –0.5 or crosses over +0.5 if it has not previously crossed over –0.5 and to sell short when the indicators crosses under +0.5 or crosses under –0.5 if it has not previously crossed under +0.5.

More info: http://www.mesasoftware.com/Papers/THE%2...

You can use these indicators by doing "Make it mine" (Click on "Share" to open the dialog box with this button).

Let me know what you think, would love to hear how these indicators are used and how effective these are for other instruments.
סקריפט קוד פתוח

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

רוצה להשתמש בסקריפ זה בגרף?
//
// @author LazyBear
// If you use this code in its orignal/modified form, do drop me a note. 
// 
study("Inverse Fisher Transform RSI [LazyBear]", shorttitle="IFTRSI_LB")
s=close
length=input(14, "RSI length")
lengthwma=input(9, title="Smoothing length")

calc_ifish(series, lengthwma) =>
    v1=0.1*(series-50)
    v2=wma(v1,lengthwma)
    ifish=(exp(2*v2)-1)/(exp(2*v2)+1)
    ifish

plot(calc_ifish(rsi(s, length), lengthwma), color=orange, linewidth=2)
hline(0.5, color=red)
hline(-0.5, color=green)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970