Fisher Indicator MT4 No Repaint
Platform: MT4 Type: Trend Last update: September 25, 2024The Fisher No Repaint Indicator is, as the name suggests, a non-repainting forex histogram indicator providing direction and strength of the market trends. Obviously, green histogram bars indicate a bullish trend. Conversely, red histogram bars reflect a bearish trend.
Closer look on the Fisher No Repaint Indicator
Signals provided by the Fisher No Repaint indicator occur at the switch of market forces. When bulls take control, histogram bars change from red to green and that moment is the potential signal. Conversely, when bears dominate the market, histogram bars change from green to red and that moment is the potential signal.
Example buy trade with the Fisher No Repaint Indicator
Below is the screenshot of an example buy trade with the Fisher No Repaint Indicator.
This is an example of a pullback trade. We added 100-period Exponential Moving Average to define the overall market trend. There was a market pullback and the histogram bars of the Fisher Indicator turned red. After a while, buyers took control and the price started to go in the original direction, which was confirmed by the change of histogram bars from red to green.
Example sell trade with the Fisher No Repaint Indicator
Below is the screenshot of an example sell trade with the Fisher No Repaint Indicator.
In that example, we have a trend reversal scenario. On the left side of the chart, the price was in the uptrend and then it broke the 100-period Exponential Moving Average, which is often a fakeout. Then the price raised a little bit and broke it again. We can clearly see that its upside movement got exhausted and we could switch to a short trade scenario. A sell signal happened when the price was below MA and Fisher Indicator bars turned red from green.
