Ready aim fire indicator

Alfy · 2021-12-14T14:58:41+00:00

Good afternoon guys, ive been trying to create the Ready aim fire indicator used by John Carter. It is a fisher transform of the Stochastic (17,5). I have created the code but i wondered if someone could check it to see if it was done correctly or any improvements that could be made. thanks in advance C=stochastic [17,5] (close) d=c/100 fish2=0.5*Log((1 + d)/(1 - d)) if fish2>fish2 [1] then e=1 else e=0 endif F=1.2 G=-1.2 Return fish2 COLOURED (255,0,255), F COLOURED (0,255,0),G COLOURED (0,255,0)

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12/14/2021 at 3:58 PM #183308 quote
Alfy
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Average
Good afternoon guys, ive been trying to create the Ready aim fire indicator used by John Carter. It is a fisher transform of the Stochastic (17,5). I have created the code but i wondered if someone could check it to see if it was done correctly or any improvements that could be made.

thanks in advance
```
C=stochastic [17,5] (close)
d=c/100
fish2=0.5*Log((1 + d)/(1 - d))
if fish2>fish2 [1] then
e=1
else
e=0
endif
F=1.2
G=-1.2
Return fish2 COLOURED (255,0,255), F COLOURED (0,255,0),G COLOURED (0,255,0)
```
12/15/2021 at 1:04 PM #183377 quote

Nicolas
Keymaster

Legend

Thanks a lot for sharing the source code of this indicator. Do you know how to use it? How it was designed in the first place by his author?

12/15/2021 at 4:18 PM #183396 quote

Alfy
Participant

Average

http://www.fwtrader.com/wp-content/Software/ClubTools/FW_FT_3xStochastics_Understanding_and_Using_the_Fisher_Stochastics_Study_b.pdf

This is the original indicator which was later renamed Ready aim Fire by Simpler trading. From the literature, it seems the original fisher transform is graphed along with a fisher transform of 3 different length stochastics. The magenta line is the transform of the 17,5 Stochastic and its signals are when the indicator changes direction especially at overbought and oversold levels greater or less than -1.2 and +1.2. Hope this helps. If anyone has Think or Swim they can check that the indicator is created correctly.
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