Is there a MTF Fisher Transform Indicator for ThinkorSwim?


New member
I am looking for a multi-time frame fisher transform that plots the FT or the One Bar Back line indicator of say an hourly time frame but plots it on the shorter fifteen minute chart in a lower panel. Does anyone have something like this?


Well-known member
You might like to look into something like a MACD MTF, use the basic structure and update that with the Fisher Transform plots. To the best of my knowledge there are many versions of MACD MTF out there including one from Hahn Tech


Staff member
@mkdear Here you go:

# MTF version of FisherTransform
# Assembled by BenTen at
# TD Ameritrade IP Company, Inc. (c) 2007-2020

declare lower;

input aggregationPeriod = AggregationPeriod.DAY;
def high = high(period = aggregationPeriod);
def low = low(period = aggregationPeriod);

def price = (High + Low)/2;
input length = 10;

def maxHigh = Highest(price, length);
def minLow = Lowest(price, length);
def range = maxHigh - minLow;
def value = if IsNaN(price)
    then Double.NaN
    else if IsNaN(range)
        then value[1]
        else if range == 0
            then 0
            else 0.66 * ((price - minLow) / range - 0.5) + 0.67 * value[1];
def truncValue = if value > 0.99 then 0.999 else if value < -0.99 then -0.999 else value;
def fish = 0.5 * (log((1 + truncValue) / (1 - truncValue)) + fish[1]);

plot FTOneBarBack = fish[1];
plot FT = fish;
plot ZeroLine = 0;

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