Smoothed RSI Inverse Fisher Transform Indicator
Info
The Smoothed RSI Inverse Fisher Transform Indicator is a Indicator for MetaTrader 4 that this indicator was originally presented in the october 2010 issue of stocks & commodities magazine and received the reader's choice award in 2011. The indicator starts by smoothing the price using a rainbow weighted moving average.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Smoothed RSI Inverse Fisher Transform Indicator
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
This indicator was originally presented in the October 2010 issue of Stocks & Commodities magazine and received the Reader's Choice Award in 2011.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: inverse reaction indicator for mt4 - another powerful indicator for MetaTrader 4 traders.
This indicator was originally presented in the October 2010 issue of Stocks & Commodities magazine and received the Reader's Choice Award in 2011.Also recommended: Inverse Distance Weighted Moving Average (ID WMA) - similar indicator with strong performance on MetaTrader 4.
The indicator starts by smoothing the price using a rainbow weighted moving average.
This smoothed price is then used to calculate an RSI, which is subsequently smoothed with the Vervoort zero-lag exponential moving average.
The resulting curve undergoes a transformation using an inverse Fisher filter.
This is the MQL4 implementation.
Update 2026.06.24: Fixed refresh issue when the maximum number of bars on the chart is reached.
You may also like: Smoothed Awesome Indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_minimum 0
#property indicator_maximum 100
#property indicator_buffers 1
#property indicator_color1 blue
#property indicator_width1 3
#property indicator_level1 12
#property indicator_level2 88.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.