SVE Inverse Fisher RSI for Amibroker (AFL)

An excellent indicator for short term signals. Buy when RSI crosses above 50 and sell below 50. Simple…….. Be careful higher values are not overbought and lower values are not oversold.




AFL


_SECTION_BEGIN("SVE Inv Fisher RSI");

RSIPer = Param("RSI Period", 4, 2, 30 );
EMAper = Param("EMA Period", 4, 1, 100 );

mwiter = C;
RainbW = 0;
for( i = 0; i < 10; i++ ) { weight = Max( 5 - i, 1 ); mwiter = WMA( mwiter, 2 ); RainbW += weight * mwiter; } RainbW /= 20; x = 0.1 * ( RSIa( RainbW, RSIper ) - 50 ); EMA1 = EMA( x, EMAPer ); EMA2 = EMA( EMA1, EMAPer ); Difference = EMA1 - EMA2; Z1Ema = EMA1 + Difference; ex = exp( 2 * Z1EMA ); y = ( ex - 1 )/( ex + 1 ); invfish = 50 * ( y + 1 ); Plot( invfish, "SVE Inverse Fisher RSI", colorBlue ); PlotOHLC( invfish,invfish,50,invfish, "", IIf(invfish > 50, colorGreen,colorRed ),
styleNoLabel | styleCloud | styleClipMinMax, 12, 88 );
_SECTION_END();