The Fisher Oscillator is a modified version of the Fisher Transform indicator designed for the cTrader platform. It converts price data into a normalized oscillator that highlights potential market turning points by emphasizing extreme price movements. The calculation is based on a smoothed Fisher Transform of the midpoint price (average of high and low) over a configurable period.

To reduce noise, the indicator applies two moving averages with customizable periods and types to smooth the raw Fisher values. It visually separates positive and negative Fisher values into green and red plots, respectively, enhancing clarity around the zero line. Additionally, a yellow signal line derived from the second moving average helps identify trend direction and momentum shifts.

This indicator is primarily used to detect market reversals, highlight overbought and oversold conditions, and provide smoother trend confirmation through layered averaging. It supports trend and market structure analysis and outputs visual signals suitable for bar-based price data.