Further to my earlier post on Fisher Indicators here; I thought I would address the issue of re-painting.
Repainting basically means that the chart repaints the bars that have already happened when a chart is reloaded or the indicator is reloaded. In short, this means that what you see on the chart in the past isn’t exactly how it looked in real time.
I have looked at various Fisher indicators and the most common one does seem to repaint. Although I have to say that the change more often than not only changes how the histogram looks rather than changes at which point it moved from red to green or visa versa. The only time it is a real issue is if the indicator makes a 1 or 2 bar reversal before changing back to the previous colour. Once you reload the chart after such a move it seems to disappear.
However, there are other versions of the indicator. One is M11 which is meant to be a version which recalculates the average but using a delay. The other I have found is Fisher_Yur4ik1 which is mean to be a “fixed” version and does not repaint at all.
All three are in the chart below and you can see they pretty much all look the same. Although the screen shot was taken historically and not in real time so the top Fisher which is the ‘original’ one has repainted from what it looked like in real time.
This however shows you that by trading the non-repainted one Fisher Yur4ik1 which is the bottom indicator, entry is 4 or so bars later than that of the repainted original indicator.
I guess it is up to the individual trader to decide how he/she wants to trade Fisher. But I can’t see a problem in using a repainting version as long as all the testing of a trading system using these types of indicators is done in real time, going forward.
I will probably do some more in depth analysis into Fisher indicators over the coming months as I feel it is an indicator worth giving some time to.
If you have any other versions you would like to share please do so.
All the various versions (including some not discussed here) of these indicators can be found here to download at your pleasure.
Jason
I can’t find the indicator referred to in your article – the one that’s not repainting namely the Fisher_Yur4ik1. Seems the link is not existing anymore?
Have you checked the link on the download page Here?
You should be able to try the Fisher M11 or one of the Fisher Yur4ik indicators. But obviously you want to make sure you don’t have the repainting one. I would
suggest running it along side the Fisher Transform Indicator and make sure it only chnages colour from red/green when the lines on the Fisher transform go above below the zero line.
Also you can always check but changing time frame and going back but you much remember roughly what the histogram looked like at the time to know if it has repainted.
Thanks, I found your Fisher_Yur4ik1 indicator and backtested it on the MT4 strategy tester but I am afraid it is also repainting. I am currently using the iFish indicator as it’s a lot better than the Fisher Transform Indicator (or any other indicator for that matter).
It does not repaint and is very accurate. I use levels .9, .5, 0, -.5 and -.9 as entry and exit levels with very good results in live trading.
Thanks for your feedback.
I was using a similar strategy, but found it unreliable with the repaint with the Fisher Yur4ik1.
I was looking for a Fisher indicator that didn’t paint.
Where may I find the Ifish indicator, that EbenB was is using.
I can not find it on this site.
I am not sure about the Ifish indicator, not heard of it before. But try the fisher transform or the fisher_m11 indicator in the download section.
You can find the Ifish I believe on your metatrader library. On your list of custom indicators, right click then click the online library. You’ll have to scroll through to find it unless your list is alphabetical. If you don’t find it there you can try one of the forex forums. FX Fisherman? Best wishes.
Absolutely correct. I always forget about the online library function in MT4.
Hello EbenB.
I dont think your Ifish indicator is the most accurate though.
I downloaded it and compared it with cci divergence and sofar cci divergence is the best.
so when you speak say its more accurate than any indicator you have come accross.
Thanks
Deedee
Hi:
Could you tell me what is the difference between FISHER YUR4IK V1 and FISHER YUR4IK V2 ? You mentioned v1 does not repaint. How about v2?
Off the top of my head I couldn’t tell you. Best thing to do is apply the various fisher indicators to you metatrader platform. Mark out the zero line crosses with vertical lines on the price window. Then change time frame to another and back again. If the lines do not match the crosses now, you will know that it repaints. Let me know if you have any trouble.
Hi Jason
Appreciate your information on Fisher, so am not sure after reading all the comments above…does the Fisher_Yur4ik1 repaint or not? if it repaints, just mention “Fisher_Yur4ik1 :it repaints” and if it doesnot mention ” Fisher_Yur4ik1 : it doesnot repaint”
It becomes simpler for the readers…thanks
Think the discussion is pretty clear but will check my charts again.
I found an interesting way to trade with fisher,i try to explain.
Use the firstzigzag indicator together with the fisheryurik,now when you look you see that the fisher gives you a very accurate signal where a new zigzag will begin/end.
knowing this gives you plenty of opportunity to trade.
I use fibonnacci to set s/l and t/p.
Problem with the yur4ik version is that it repaints.
We have been having a chat about this indicator on the forum today. Take a look.
http://www.greattradingsystems.com/forex-forum/forex-trading-systems/fisher-indicators/
I assume you understand that the zigzag always marks the current price as a high or low and it can recalculate?
So in essance I assume you are just taking every Fisher signal?