The Fisher Yur4ik is a great forex trading oscillator for scalping, day trading and swing trading purposes.
This Fisher Yur4ik indicator fluctuates above and below the 0.00 neutral level.
- A bullish oscillator trend (green bars) occurs when the histogram bars turn back above the 0.00 level from below.
- A bearish oscillator trend (red bars) occurs when the histogram bars turn back below the 0.00 level from above.
Use the Fisher Yur4ik MT4 indicator in agreement with the overall trend to yield better trade performance.
For instance, use it together with Bollinger Bands, DMI, SMA or EMA.
Overall trend bullish? Only trade Fisher Yur4ik when histogram bars turn green color. Ignore the red colored histogram bars.
Overall trend bearish? Only trade Fisher Yur4ik when histogram bars turn red color. Ignore the green colored histogram bars.
The USD/JPY 1-Hour chart below displays the Fisher Yur4ik Oscillator Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Fisher Yur4ik Oscillator MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy order when the Fisher Yur4ik Oscillator turns back above the zero line from below (green histogram bars).
Sell Signal: Open sell order when the Fisher Yur4ik Oscillator turns back below the zero line from above (red histogram bars).
Trade Exit : Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (period) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the fish-oscillator.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)