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Inverse Fisher on RSI/MFI
Suggested by John Ehlers , IFT helps you to determine the exact oversold/overbought points in any oscillator-type indicators.
The 2 IFT based indicators in this chart are:
- Inverse Fisher on RSI (IFTRSI)
- Inverse Fisher on MFI (IFTMFI)
Suggested method to use any IFT indicator is to buy when the indicator crosses over –0.5 or crosses over +0.5 if it has not previously crossed over –0.5 and to sell short when the indicators crosses under +0.5 or crosses under –0.5 if it has not previously crossed under +0.5.
Best used one lower (3 hour and below) and higher (1 day+) time frames.
Much credit to LazyBear's original pinescript code and John F. Ehlers books to help smooth out trigger points.
The 2 IFT based indicators in this chart are:
- Inverse Fisher on RSI (IFTRSI)
- Inverse Fisher on MFI (IFTMFI)
Suggested method to use any IFT indicator is to buy when the indicator crosses over –0.5 or crosses over +0.5 if it has not previously crossed over –0.5 and to sell short when the indicators crosses under +0.5 or crosses under –0.5 if it has not previously crossed under +0.5.
Best used one lower (3 hour and below) and higher (1 day+) time frames.
Much credit to LazyBear's original pinescript code and John F. Ehlers books to help smooth out trigger points.
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