The Fisher indicator is a typical Forex trading oscillator that measures trend direction and strength.
Values above 0 are considered to be bullish and values below 0 are considered to be bearish.
Large green or red bars indicate strong trend strength.
BUY: Buy at the first green bar.
SELL: Sell at the first red bar.
Use in conjunction with other technical tools.
EUR/USD 1 Hour Chart Example
How to install the Fisher custom indicator in Metatrader 4?
- Download the Fisher.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.