InvFisherTransformRSI.efs
File Name: InvFisherTransformRSI.efs
Description:
Based on The Inverse Fisher Transform by John Ehlers. This article appeared in the May 2004 issue of Stock & Commodities.
Formula Parameters:
NA
Notes:
The related article is copyrighted material. If you are not a subscriber of Stocks & Commodities, please visit www.traders.com.
The May 2004 EFS formulas were provided by TS Support.
Download File:
InvFisherTransformRSI.efs
EFS Code:
// Magazine: Technical Analysis of Stocks & Commodities, May 2004
// Article: The Inverse Fisher Transform by John F. Ehlers
// Study: INVERSE FISHER TRANSFORM OF RSI
// Provided By: TS Support, LLC for eSignal
var RSI = null;
function preMain(){
setStudyTitle("INVERSE FISHER TRANSFORM OF RSI");
setCursorLabelName("IFish",0);
setDefaultBarFgColor(Color.red,0);
addBand(.5, PS_SOLID, 1, Color.black);
addBand(-.5, PS_SOLID, 1, Color.black);
setDefaultBarThickness(2);
//setComputeOnClose();
}
function main(){
wmaLength = 9;
rsiLength = 5;
if (RSI == null) RSI = new RSIStudy(rsiLength,"close");
var IFish = 0, WtdSum = 0 ;
Value1 = .1 * (RSI.getValue(RSIStudy.RSI) - 50);
for(i = 0; i < wmaLength; i++)
WtdSum += (wmaLength - i) * (.1 * (RSI.getValue(RSIStudy.RSI,-i) - 50)) ;
CumWt = (wmaLength + 1 ) * wmaLength * .5 ;
Value2 = WAverage = WtdSum / CumWt ;
IFish = (Math.exp(2 * Value2) - 1) / (Math.exp(2 * Value2) + 1);
return IFish;
}