This indicator plots the Schaff Trend Cycle in a separate pane. It subtracts a slow exponential moving average from a fast one, applies a stochastic cycle twice, and smooths each result to form a 0–100 oscillator. Line color follows the slope, or the upper and
Indicator · Pine Script v5 · Own pane
Fisher Transformator Index
This indicator plots a modified Fisher Transform oscillator alongside an adjustable trigger line in a separate pane.
GitHub stars7on the repository
Pine versionv5runs as is
Lines of code51
Settings6inputs
LicenceNone stated
Last update3 months ago24 Jul 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Fisher Transformator Index calculates normalized median price values, applies smoothing and clipping, and transforms the result into Gaussian probability distribution curves. The custom trigger line blends an exponential moving average with an instantaneous envelope based on the trigger lead setting. Bullish and bearish momentum shifts are highlighted by a dynamic color fill between the two lines across a zero baseline. The script provides visual trend indications without automated execution or alert conditions.
- Modified Fisher Transform oscillator
- Adjustable hybrid EMA and envelope trigger line
- Customizable normalization, smoothing, and clipping inputs
- Dynamic colored fill for Fisher and trigger crossovers
Details
Published by
eddiebelaval on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum, Trend
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Length | int | 9 | len |
| Normalization strength | float | 2.2 | mult |
| Smoothing factor value | float | 0.80 | smooth |
| Hard clip level | float | 0.92 | clip |
| Trigger Lead (0=slow EMA ←→ 1=fast envelope) | float | 0.65 | trigger_lead |
| Trigger EMA Length | int | 5 | trigger_len |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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