Studies · Momentum
Fisher Transform
fisherTransform · Ehlers' Fisher transform of the normalised median price
Drawn in its own panelReads high, lowGuide lines at 0
Hover the chart to read values · practice data: a seeded random walk with no overnight gaps
What it measures
Puts each bar’s midpoint on a −1 to +1 scale within its recent range, then stretches the ends with a mathematical transform so turning points show up as sharp spikes instead of gentle curves. The signal line is simply the Fisher line one bar earlier.
How traders use it
- Turning points: an extreme reading that reverses marks a likely turn.
- Crossings of the Fisher line and its signal (yesterday’s value), which is just a change of direction.
- Zero-line crossings as a trend signal.
Parameters
| Name | Value | Default | Allowed | What it does |
|---|---|---|---|---|
| period | 10 | ≥ 1 usual 5–30 | The look-back window for the high-low range. |
Outputs
| Value | The Fisher line. |
| Signal | The Fisher line delayed by one bar. |
Drawn in one colour, one line per output, told apart by line texture. Hover the chart to read each one.