Ehlers Fisher Transform MTF is a forex trend indicator, used to monitor the changes in the market momentum and deliver the trade signals accordingly. This indicator is supported by all sorts of timeframe charts within the forex MT4 trading platform. Therefore, you can apply it for forex scalping, intraday, and day trading all at a time.
Ehlers Fisher Transform MTF can also be applied to trade all kinds of forex currency pairs available in the financial markets. Besides, its simplicity of use offers a great privilege for the newbie trend-following traders.
Ehlers Fisher Transform MTF Overview
Download and install the indicator on your MT4 terminal. Once you’re done, your chart will appear like the following image:
Ehlers Fisher Transform MTF Explanation
Ehlers Fisher Transform MTF applies a 30-day Median price calculation method in order the define the indicator value that determines the market trends. It also includes a price & index smoothing tool 0.3 for maintaining a higher accuracy level of its trade signals.
The Ehlers Fisher value turns positive with its bars turn into green color when the market trend is bullish. On the other hand, the Ehlers value turns negative and the bars turn red means it is a bearish trend of the market. It has been observed that Ehlers Fisher works better when combined with standard moving averages.
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Ehlers Fisher: Buy Conditions
- The Ehlers Fisher value turns positive
- The indicator bars turn green at the same time
- Buy triggers after the above conditions are met
- Set stop loss below the current swing low of the market
- Exit long/take profit whenever the Ehler Fisher value turns negative
Also Read: CAP Channel Trading Indicator MT4
Ehlers Fisher: Sell Conditions
- The Ehlers Fisher value turns negative
- The indicator bars turn red at the same time
- Sell triggers after the above conditions are met
- Set stop loss above the current swing high of the market
- Exit short/take profit whenever the Ehler Fisher value turns positive