The Fisher MetaTrader indicator is a fairly simple histogram indicator, which determines the direction and strength of a trend. Fisher calculation is based on the highs and lows of previous price periods, applying complicated mathematical calculations to the ratios between the current price and the low/high. The indicator is available for both MT4 and MT5. This indicator redraws itself: old bars are recalculated when new ones arrive.
Period (default = 10) – period which is used for highs and lows calculation. The higher this number is, the fewer false signals indicator generates
How to trade Fisher MT4 and MT5 Indicator
The chart shows that a bullish trend is marked with green histogram lines, while a bearish trend is marked with red lines. It is very easy to trade with this indicator. You can close short positions and open long positions when the indicator color changes from red to green. The reverse is also true: you can close long and open short when the color changes from green to red.
How to download and install an indicator
In order to install the indicator on your MT4 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT5>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “Fisher” template to apply it on the chart.
Note: This indicator was developed by a third party. AtoZ Markets does not carry any copyrights over this trading tool.