Fisher ‘Yur4ik’ Indicator For Metatrader

Love Trading Buy/Sell Arrow Signals? Try This!

I personally like the Fisher indicator on metatrader. The Fisher Yur4ik indicator is a simple version of the the Fisher Transform indicator which was devised John Ehlers.

Ehlers indicators have become more popular in the last few years and I certainly feel they deserve as much attention as any other indicator out there.

I think that the Fisher indicator is best used when it is used as the main trend indicator of a trading system. This means that you will first look at Fisher and if it is above the zero line you will be looking fro buy signals and if it is below the zero line you will be looking for sell signals.

Here is a very simple 1 min Ftse chart of a basic Fisher concept with a moving average crossover used to generate the entry signals. The Fisher indicator is set to 55 and the moving

Click image to enlarge

average crossover signals are two simple Ma’s set to 13 and 25 respectively. In short we are looking to only take short signals from the crossover when the Fisher indicator is red and longs when it is green. I have added a vertical line or two to show you roughly where the changes in trends occur. You can clearly see taking only the sell arrows when the Fisher transform is red and only taking green when the Fisher is green works out pretty well.

You will get a few false starts but because the the ma’s are quite short the market doesn’t move too far before giving you an opposite signal.

It is a very basic concept but one I think some could take and add their own twist to it. Personally, I would say that the way to make this idea a profitable systems is to do some manual back testing and devising a sound stop and profit taking strategy or maybe you would want to try a parabolic sar to trail your stop on the runners. After all that is where the profit is to be made in my opinion on a system like this.

There are quite a few Fisher indicators out there so I have add the two that I think are of most use.

Here is the traditional Fisher Transform Indicator for Metatrader and here is the Fisher Yur4ik I used in my chart above.

You may need to set the bottom colour of this version in the properties to black to get the green/red colour change in the indicator as shown in my chart.

Fisher Transform is also available on Ninjartrader so here it is.

Updated 27/10/09-Readers of this article may want to read this one on varoius Fisher Indicators.

16 Responses

  1. amit says:

    I cannot but agree with the author, its true that thereis no holy grail, so combining a system with a filter like the Fisher Yur4ik indicator is a great way to trade.

  2. Jason says:

    Its definitely one of the better ones out there

  3. Mannix says:

    Good trend indicator. The only issue I have is that the bars
    repaint in size and depth. If this problem could be solved, the Fisher would go from good to great.

  4. Jason says:

    As I said in the articles some of the fishers do not repaint. The actual fisher transform indicator does not repaint. Although it is not a histogram. Have a look in the indicator list for fisher_m11. That should not repaint. Any problems let me know.

  5. JP says:

    what do you mean by ‘repaint’ ?

  6. Jason says:

    repaint is when the chart looks different in real time to if you reload the chart. This can lead to indicators triggering trades in real time when they would not show a trigger on a historical chart. If you are basing a system on historical trades based on a chart then you could face difficulties with repainting indicators.

  7. emilian says:

    Could you please tell me what setting should I use in order for this indicator to show me the arrows? Or the arrows are inserted by you manually? Thank you!

  8. GreatTradingSystems says:

    Those were from another indicator that I had on the chart at the time; the moving average crossover signal

  9. emilian says:

    I have the yur4ik_v2 and it doesn’t look like the one on your chart. Where do I have to insert the 13 and 25 for MA’s? Thank you in advance for your answer.

  10. GreatTradingSystems says:

    It should do. The 13 and 25 are for a different indicator….moving average crossover signals

    Moving Average Crossover Signal

  11. GreatTradingSystems says:

    Please also check the other article on Fisher indicators as it addresses the repainting issues,

  12. emilian says:

    Thank you for the explanation and link to the MA’s. I will try to see if it works for me now.

  13. emilian says:

    Sorry for intruding, but have you been using this indicator as explained here for a long time? ANd in a profitable way, even if on demo – not back testing?

  14. GreatTradingSystems says:

    I haven’t used it in a while to be fair. I use a more mechanical approach now. But as mentioned in the article it is more about taking the idea and creating your own system from it.

    That is basically what the site is about. Trying to get others to think for themselves and in some way go through the same process I did/do.

  15. GreatTradingSystems says:

    I am actually working on another simple idea based on a couple of indicators that I feel have potential and will try and go through what I do to test it/check it on the forum. So keep an eye for it.

    It may end up becoming a failed attempt or we may end up developing something useful.

    Keep Checking back over the next week and I should have the forum post up.

    http://www.greattradingsystems.com/forex-forum/

  16. emilian says:

    Thanks for the info. Will follow up closely.

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