OPEN-SOURCE SCRIPT
Fisher Transform of On Balance Volume (by ChartArt)
A simple mash-up of the On Balance Volume (OBV) indicator with the Fisher Transform indicator (blue) with the classic Fisher Transform signal trigger (silver color), plus a linear regression as a second signal line (red).
I recommend to use a period for the linear regression which has the same speed or is slower than the period of the Fisher Transform to avoid overshooting.
P.S. Here are three areas where the indicator worked quite good on historic charts
I recommend to use a period for the linear regression which has the same speed or is slower than the period of the Fisher Transform to avoid overshooting.
P.S. Here are three areas where the indicator worked quite good on historic charts
Open-source script
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.