If you are looking for the fisher indicator mt4, this is how it works, and how you can configure it.
Disclaimer: I do not trade using this indicator. I found it online and thought some of you may like it that’s why I’m posting it here for you to download should you need it.
What Is The Fisher Indicator And How Do You Trade It?
The fisher mt4 indicator is really a simple histogram. Here’s what it does:
- it detect direction of trend (up or down trend) and that’s when it its histogram bars changes color. If a bullish trend is forming, you will see green histogram bars. When a bearish trend is forming, you will see red histogram bar form.
- it also detects the strength of a trend: if you look at the charts below, you will notice that the histogram bars come in different length, the longer the length, the stronger the trend is. As the histogram bars decrease in length, it tells you the strength of the trend is diminishing.
- it signals trend changes: that’s when the histogram bars changes from red to green (meaning bearish trend has ended and bullish trend is starting) and when the bars change from green to red (meaning bullish trend has ended and bearish trend is starting)
So how do you trade with the fisher indicator then?
Well, it its simplest form, you buy when histogram bar changes from green to red and you sell when a histogram bar changes from green to red. (See chart below)
The default period parameters for this fisher indicator is set at 10.
What does it mean?
Well it means this:
the period in bars, on which to calculate the maximum and minimum. The higher the value is, the less false trend change signals occur but the more this indicator lags.
Fisher Indicator MT4 Chart Example
Ok, here’s an example of a the fisher indicator at what and the information it displays on any chart you attach it to:
- note the downtrend start is signaled when the fisher histogram bars change from green to red and vice versa for uptrend.
- note also the length of the histogram bars indicator how strong the trend is.
Fisher Indicator MT4 Download Link (Plus Other’s You May Also Be Interested In
Ok, here’s the download link to the fisher mt4 indicator: Fisher_Yur4ik
Other MT4 Indicators You May Also Be Interested In:
- pip value calculator mt4
- zigzag indicator mt4
- inside bar indicator mt4
- pin bar indicator mt4
- candlestick pattern indicator mt4
- mt4 candlestick time indicator
- spread indicator mt4