Fisher Indicator MT4
Fisher Indicator MT4 is a simple histogram indicator that identifies and indicates trend direction and strength. Fisher Indicator MT4 calculations are based on prior periods’ maximum and minimum price levels, with complex math calculations applied to the relationships between the current price and the max/min values. It’s shown in a secondary window underneath the main trading chart. From the input tab, you may change the default parameters. The upward trends are shown on the chart by the green histogram lines, while the downward trends are indicated by the red line. Its code does not include any conventional MT4 indicators.
With this indicator, trading is simple. When the lines change color from red to green, you may close short positions and trade long. When the lines shift from green to red, you may close long positions and trade short. Feel free to play around with the settings and parameters to find what works best for you. The Fisher Indicator MT4 is a very useful indicator for trend identification. The Fisher Indicator MT4 is a MetaTrader 4 (MT4) indicator that may be used with any forex trading system or strategy to confirm trade entry or exits.
Custom Technical Indicators installation:
Download indicator and place files in the MetaTrader “Indicators” Data Folder found in the Main Menu File section:
The “Indicators” folder is located in the “MQL4” folder.
Restart MetaTrader Platform.