H Capital Fisher Transform is a free cTrader implementation of the Fisher Transform developed by John F. Ehlers.

The indicator measures where price is positioned within its recent range, then applies the Fisher mathematical transformation to amplify values near the upper and lower extremes. This produces the sharp peaks and troughs for which the Fisher Transform is known and can make changes in short-term market direction easier to visualize.

This version was built with an emphasis on formula accuracy, transparency, and simplicity rather than adding unnecessary features or promising unrealistic trading results.

Included

• Ehlers 2004 Formula — the later formulation used as the default.
• Ehlers 2002 Formula — the original published version available as an optional mode.
• Adjustable lookback period.
• Multiple price-source options.
• Fisher line.
• Trigger line.
• Zero reference line.
• Optional Fisher/Trigger crossover alerts.
• Optional zero-cross alerts.
• Alerts based on confirmed closed bars.
• Public output series for future cBot or indicator integration.
• No future-bar calculations or look-ahead logic.

How to read it

A rising Fisher value indicates that price is moving toward the upper portion of its recent range.

A falling Fisher value indicates that price is moving toward the lower portion of its recent range.

The Trigger is the previous Fisher value. A crossover therefore highlights a change in the short-term direction of the Fisher line.

Large positive or negative readings show that price is near an extreme of its recent range. They should not automatically be interpreted as buy or sell signals.

A strong trend can keep Fisher at an extreme for an extended period, and the indicator can produce false turns during trending or choppy market conditions.

For that reason, Fisher is generally more useful as a market-analysis and confirmation tool than as a standalone trading system.

H Capital approach

This indicator is part of the H Capital project to research established trading indicators, understand the mathematics and evidence behind them, rebuild useful tools for cTrader, and make them freely available.

No claimed win rates.
No hidden logic.
No paywall.

Research it. Build it. Test it. Share it.

This indicator is provided for research and educational purposes and does not guarantee profitable trading results.