Fisher Indicator for MT4 will help you with your swing trading and eliminate whipsaws but still getting you in the trade quite early
When combining Fisher Indicator with Hieken Ashi indicator and Bollinger bands you can have great success with trading. But none the less even Fisher Indicator alone is a powerful tool. You can use it to plan your entries and exits out of the market. It works on all timeframes but best is to use it on higher timeframes.
Fisher Indicator will never repaint and once the bar closes you are safe to know in what direction PA will move.
If you want faster response to market you should set RangePeriods to smaller number. If you want less smoothing look (like a saw) you can lower the Smoothing parameters. It all depends on what you are looking to get out of the Fisher Indicator. Together with other Indicators and your clear mind you can have great success with it! good luck!
This are the available settings for Fisher Indicator:
- RangePeriods: enables you to set how fast Fisher indicator reacts to the market lower the number faster it will get but you will have more whip saws. 30 is a good number
- PriceSmoothing: will smooth Price Action
- IndexSmoothing: will smooth index
How to install Fisher Indicator in MetaTrader 4 / MT4:
- Download/Copy/Save the MQ4/EX4 file into your C:\Program Files\MetaTrader 4\experts\indicators folder (or change the folder to your installation sometimes forex broker name)
- Restart your MetaTrader 4 application (assuming it’s currently open) … or Launch your MetaTrader 4 application
- On the left hand side, look for the “Navigator” window and under the “Common” tab, look into the “Custom Indicators” section
- Locate the indicator which you have just downloaded into the folder stated in Step 1
- Drag (Click and drag) the indicator onto the chart
- Choose your settings and click OK.
- TADA and your done!