Fisher

[Enivid]

Discuss Fisher MT4 indicator in this thread. You can ask any questions about this indicator here.

[shaijudubai]

Originally Posted by Enivid

Discuss Fisher MT4 indicator in this thread. You can ask any questions about this indicator here.

Can you enable audio alerts while trend change..?

[Hooya]

I like fisher. Funny enough did a post about it the other day. Personally I would only use it as "directional" indicator and not actually and entry or exit method. Something like this onemaybe.

[mikey109021]

Audio is required.. pls enable that..!!
its hard to understand..!!

[Enivid]

Fisher indicator has been updated and is now available for MetaTrader 5.

[zulufx]

This indicator looks fantastic - until you look under the hood! When viewing the source code, you'll see 2 lines (mq4 version):

Value1=Value;
Fish1=ExtBuffer0[i];

This is future information! i.e. The indicator values are calculated with the benefit of hindsight. Remove these 2 lines and compare .. it's not nearly as predictive. (BTW, equivalent code exists in the mq5 version - in case you're wondering!).

[Enivid]

Originally Posted by zulufx

This indicator looks fantastic - until you look under the hood! When viewing the source code, you'll see 2 lines (mq4 version):

Value1=Value;
Fish1=ExtBuffer0[i];

This is future information! i.e. The indicator values are calculated with the benefit of hindsight. Remove these 2 lines and compare .. it's not nearly as predictive. (BTW, equivalent code exists in the mq5 version - in case you're wondering!).

What's the problem? How can it look into the future when the data is still unavailable? It uses the most current data to build the curve and yes, it repaints. But how is it looking into future?

[zulufx]

The indicator is calculated from the present (index 0) to the past (incrementing index for each period - as defined by the period of the opened chart). For the present bar (i.e. index 0), we don't know the future, so the values Value1 and Fish1 are 0. When it takes a step back to index 1, it includes Value1 and Fish1 in the calculation. So the current bar is included in calculating the value for the 2nd to last bar. Thus the 2nd to last bar is based on future information.

This indicator adjusts the previous few bars as new info comes available.

This is very misleading. If you back test this indicator you'll end up with a massive profit (and you'll be amazed at how accurate it is at predicting price movement). Switch over to trading live and your massive profit will never materialize!

[Enivid]

That's called "the indicator repaints itself". I did warn about that in my blog. And that's quite obvious even without looking at the code. With each new candle the past values change.

[zulufx]

I see you didn't approve/allow my follow up post where I recognise that what I was describing was what you called 'repainting'. I suggested that 'recalculating' would be a better word, as repainting sounds like an issue with updating the graphical representation of the indicator on the screen.

On http://www.earnforex.com/metatrader-indicators/Fisher, you explain the use of indicator as going long when the bars change to green or short when they change to red. However, you should include a warning along the lines of 'The user must ignore any historical output of this indicator. The indicator adjusts the value of prior bars based on subsequent price data.'

I disagree this behaviour is obvious. Most people assume that indicators are static and what they're seeing on the chart historically, accurately represents what was shown in real time. Unless you're specifically looking for repainting/recalculating, it would be easy to miss.