FX Fisher� VertexFX Indicator

[NCDindia]

FX Fisher indicator is a momentum based VertexFX client side VTL indicator that is useful in providing market tops and bottoms with minimal lag. It is an oscillator and hence it scales the values between -2.57 and +2.57. It is useful over H4 and Daily charts.

In the first step, we calculate the Highest High and Lowest Low over the PERIOD bars. We then calculate the ratio of the difference between the current reference price (PRICE_FIELD) and Lowest Low, over the difference between the Highest High and Lowest Low. This ratio is normalized over two bars, and the log-normal ratio of this value and of the previous value is added up to calculate the FX Fish indicator value.
BUY - Place Buy position when indicator value has bottomed out below zero, and is rising for at least two bars.
SELL - Place Sell position when indicator value has topped out above zero, and is falling for at least two bars.