Ehler’s Fisher Transform is probably one of the least lagging crossover indicators available to the modern trader.
Apparantly it is “based on the assumption that prices do not have a Gaussian probability density function (PDF) (bell-shaped curve movement), but that by normalizing price and applying the Fisher Transform you could create a nearly Gaussian PDF”.
Below is a chart with the Fisher Transform applied to it. You can clearly see how the turns are decisive which makes it easier to declare a crossover has been completed. With some other indicators it is often quite difficult to see when the signal lines have crossed.
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As you see, the crossover signal within the current up trend is often near the zero line but most importantly a crossover occurs within 4 or so bars of the lows. This makes it a lovely indicator for those who like to jump on a trend early. This allows you to keep your stops close by.
As mentioned in other articles on the Fisher group of indicators it is definitely on my top list of indicators to use if you want to trade using chart based indicators.
Click here to download Fisher Transform For Metatrader.