Fisher Transform Indicator (MQL5) for MT5 FREE DOWNLOAD


In the intricate world of financial trading, having access to advanced indicators can provide a competitive edge. The Fisher Transform Indicator, thoughtfully designed for MetaTrader 5 (MT5) and available for free download, is a powerful tool that empowers traders to identify trends and potential market reversals with enhanced accuracy. This article delves into the features, benefits, and practical applications of the Fisher Transform Indicator for MT5.

Introducing the Fisher Transform Indicator

The Fisher Transform Indicator is a technical analysis tool designed to transform price data into a Gaussian probability distribution. By converting price data into oscillations that oscillate between -1 and +1, this indicator offers traders a unique perspective on market trends and reversals.

Key Aspects of the Fisher Transform Indicator:

  1. Price Transformation: The Fisher Transform Indicator applies a mathematical formula to convert price data into a transformed oscillator that ranges between -1 and +1.
  2. Oscillator Calculation: The indicator generates an oscillator that oscillates around a center line, aiding traders in identifying trend shifts and potential reversal points.

Benefits of the Fisher Transform Indicator

  1. Trend Identification: The transformed oscillator derived from the Fisher Transform provides insights into trend direction. Oscillator values above zero indicate a bullish trend, while values below zero suggest a bearish trend.
  2. Reversal Points: Extreme values of the transformed oscillator can signal potential trend reversals. Values nearing +1 or -1 might indicate overbought or oversold conditions.
  3. Noise Reduction: The Fisher Transform Indicator’s unique transformation reduces the impact of price noise, providing a clearer view of true price trends.
  4. Divergence Detection: Divergences between the transformed oscillator and price movement can offer indications of potential trend reversals.
  5. Customization: Traders can customize the indicator’s parameters, such as the smoothing period and center line value, to align with their trading preferences.

Installing and Using the Fisher Transform Indicator in MT5

  1. Download the Indicator: Locate a reputable source offering the Fisher Transform Indicator for MT5. Ensure that the downloaded indicator file is in the correct format.
  2. Installation: Open your MetaTrader 5 platform and access the “File” menu. Choose “Open Data Folder” to access the installation directory. Within the “MQL5” folder, locate the “Indicators” folder and paste the downloaded indicator file.
  3. Restart MT5: Close and reopen your MetaTrader 5 platform to ensure proper loading of the indicator.
  4. Applying the Indicator: Open a chart for your desired trading instrument. In the “Navigator” panel, expand the “Indicators” section and locate the Fisher Transform Indicator. Drag and drop it onto the chart. Customize the indicator settings to align with your trading preferences.


The Fisher Transform Indicator for MT5 offers traders a unique perspective on market trends and potential reversals by transforming price data into a Gaussian probability distribution. By providing a transformed oscillator that oscillates between -1 and +1, this indicator enhances trend identification and divergence detection. Traders can effortlessly download and install the Fisher Transform Indicator for free, integrating its capabilities into their trading strategies. However, as with any trading tool, combining insights from the indicator with comprehensive analysis is vital for achieving successful trading outcomes.

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