How to Add Ehlers Fisher Transform Indicator on MetaTrader 4 Charts
Step 1: Open Navigator Window on FX Trading Platform
Open Navigator panel as shown & illustrated below: Go to 'View' menu (click on it), then select 'Navigator' panel (click), or From Standard Tool Bar click the 'Navigator' button or press keyboard shortcut keys 'Ctrl+N'
On Navigator window, choose 'Indicators', (Double Click)
How Do I Add Ehlers Fisher Transform Indicator on MetaTrader 4 - MT4 Ehlers Fisher Transform Indicator
Step 2: Expand the Indicators Menu on the Navigator - Adding Ehler Fisher Transform MT4 Indicator
Expand the menu by clicking the expand button marker (+) or double click the 'indicators' menu, after this the button will appear as (-) and will now display a list as shown below - select the Ehler Fisher Transform chart indicator from this list of indicators so as to add the Ehler Fisher Transform indicator on the chart.
How Do You Add Ehlers Fisher Transform Indicator - From the Above window you can then place Ehler Fisher Transform indicator that you want on the chart
How to Add Custom Ehlers Fisher Transform Indicator to MetaTrader 4
If the indicator you want to add is a custom indicator - for example if the Ehler Fisher Transform indicator you want to add is a custom indicator you will need to first add this custom Ehlers Fisher Transform indicator on the MT4 platform & then compile custom Ehlers Fisher Transform indicator so that the newly added Ehlers Fisher Transform custom indicator pops up on the list of custom indicators on MT4 software.
To learn how to install Ehler Fisher Transform indicators on MT4, how to add Ehlers Fisher Transform indicator window to MT4 and how to add Ehlers Fisher Transform custom indicator in MT4 - How to add a custom Ehlers Fisher Transform indicator in MetaTrader 4.
About Ehlers Fisher Transform Indicator Explained
Ehlers Fisher Transform Technical Analysis Signals
Developed by John Ehler,
Originally used to trade Stocks & Commodities Market.
Ehler Fisher Transform has two lines, the Fisher Transform line & the signal line: signals are generated when there a crossover of these 2 lines which looks like the stochastic oscillator.
It was designed to define major price reversals using the rapid response time and sharp, distinct turning points making it a leading indicator.
This indicator is based on the assumption that the prices don't have a Gaussian probability density function (bell shaped curved movement), but that by normalizing price and applying the Fisher Transform you can create a nearly Gaussian probability density function on the lines drawn.
Ehler Fisher Transform
Technical Analysis and Generating Signals
Trading signals can be generated with pin-point accuracy by using the cross-over points of the Fisher Transform and its signal line.
However, this Ehlers Fisher Transform is not very accurate, as with all leading indicators, it gives many false signals & it is prone to whipsaws, it is therefore recommended to trade it in combination with other indicators.
