OPEN-SOURCE SCRIPT
Fisher Transform of On Balance Volume (by ChartArt)
A simple mash-up of the On Balance Volume (OBV) indicator with the Fisher Transform indicator (blue) with the classic Fisher Transform signal trigger (silver color), plus a linear regression as a second signal line (red).
I recommend to use a period for the linear regression which has the same speed or is slower than the period of the Fisher Transform to avoid overshooting.
P.S. Here are three areas where the indicator worked quite good on historic charts
I recommend to use a period for the linear regression which has the same speed or is slower than the period of the Fisher Transform to avoid overshooting.
P.S. Here are three areas where the indicator worked quite good on historic charts
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