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As you may know the FisherTransform Indicator generates bars and the resulting peak swings are great for identifying price reversals. However, the indicator itself does not produce a plot or bar reference that I can use or easily find to insert into a strategy. I.e., the strategy wizard (sorry Big Mike) does not make any reference to a bar or plot. Looking at the manual code it is also unclear exactly what is producing the bar plots for the indicator.
For example, one strategy of a long signal would be a "V" formation developed during 4 bars.:
// Condition set 1
if (Rising(FisherTransform(10)) == true
&& Low[1] < Low[2]
&& Low[2] < Low[3])
// EnterLong
And the short formation would look like the carrot (^) symbol during 4 bars:
// Condition set 2
if (Falling(FisherTransform(10)) == true
&& High[1] > High[2]
&& High[2] > High[3])
//EnterShort
Please note that both these conditions above refer to the candlestick (or OHLC bar), not the bar produced by the FisherTransform Indicator. Therefore, I need to be able to reference the bars the FisherTransform produces. How do I do that???
Additionally, as a related problem to incorporation of the Indicator into a strategy:
If I had the FisherTransform Indicator in a sub panel and not using the price of the instrument (price markers - false) it would use a 3, 2, 1, 0, -1, -2, -3 price scale. However, this indicator doesn't plot anything I can use that would cross over/under 0 or -1.5, etc.
So, I'm asking again, how to a reference a bar, plot, line, etc in my strategy with this indicator????
A solution to this problem will help a great many people who think this is a terrific indicator but can't use it in a strategy.
YOUR ASSISTANCE IS VERY MUCH APPRECIATED!!!
Can you help answer these questions from other members on NexusFi?
When creating a new thread, note which subforum you are in. Here is a short list of suggestions:
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-- Big Mike Trading
Please be advised, Fisher on NT heavily repaints. I want to make sure you know this before you waste time trying to incorporate it into a strategy.
hmm,
i dont know if i get your thought right
but let me start like this :
an calculated indicator first gives us a value, a number in some way.
as second we go and use a method to plot this on a chart.
so the plot-thing - line, bar, whatever is secondary for your needs i think.
you look for the value of the FisherTransform(10) and want to work with it, right ?
and the value you get like this :
FisherTransform (10) [0] - this gives out the value of the indi at the current bar
this can be used for comparison + condition-building now.
the wizard / condition-builder doesnt show you the category "plot" because the FisherTransform has only 1 dataseries / plot.
the "plot-"choose option in the wizard only comes up if the indi has multiple plots to choose from - like the MacD iE.
well, i hope this hits the thing you talk about a bit
The NinjaTrader Fisher Transform does not repaint. There is no problem.
However, there is a MetaTrader indicator called FisherYur4ik, which had been translated into a repainting indicator for NinjaTrader. More details can be found in the thread below:
I have imported and compiled successfully into NT7 as is (without changing anything).
The indicator window shows on a chart but it is not populated, ie: it is blank.
Can anyone see if they get the same or can help to work in NT7 …
Again, the NinjaTrader default Fisher Transform is safe.
As @max-td explained, there should not be any problem.
The indicator produces a plot. As it produces only a single plot you do not need to reference the DataSeries. For example you would call the MACD histogram in a strategy as MACD(fast, slow, smooth).Diff[0], so you need to specify that you call Diff, which is the histogram. The Fisher Transform can be simply called as FisherTransform(period)[0].