The Fisher MT4 indicator is a trend following forex oscillator developed for Metatrader 4.
Here’s the best way in my opinion to trade with the Fisher indicator:
The trend is considered bullish when both Fisher MT4 signal lines are aligned above the zero level.
The trend is considered bearish when both Fisher MT4 signal lines are aligned below the zero level.
I like to trade the Fisher crossover system in agreement with the Bull/Bear trend.
It goes like this:
Open a buy trade when both Fisher MT4 signal lines are aligned above the zero level and the red signal line crosses back above the blue line from below.
Conversely, open a sell trade when both Fisher MT4 signal lines are aligned below the zero level and the red signal line crosses back below the blue line from above.
Try it for scalping, day trading and short-term swing trading.
Download the “fisher.mq4” MT4 indicator
The GBP/USD 4-Hour chart below displays the Fisher Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Fisher MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy order when the Fisher MT indicator red signal line crosses back above the blue signal line from below. Place a stop-loss below short-term support.
Sell Signal: Open sell order when the Fisher MT indicator red signal line crosses back below the blue signal line from above. Place a stop-loss above short-term resistance.
Trade Exit : Use your own method of trade exit.
Download the “fisher.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (length, price, bars) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: oscillator signals
Copy and paste the fisher.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)