A complete Fisher Transform oscillator for MetaTrader 5 built from statistical first principles. It reshapes bounded price-derived values into a near-normal distribution, producing sharper turning points than many averaging-based oscillators.
Computation is performed in three stages: normalize price to a fixed range from recent highs/lows, smooth the normalized series with a clamp near the boundary to keep the logarithm well-behaved, then apply the Fisher log transform and recursively blend with the prior output. Recursive state uses registered indicator buffers, with the main output serving as its own continuous memory.
The output is a single oscillator line without built-in trade arrows. Typical interpretation combines level and behavior: readings beyond about ±1.5 to ±2 indicate extremes, while the usable event is the turn back toward zero after t...
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1August 29, 2026 11.9K 11
