NonLag Inverse Fisher Transform of RSX
Overview
This indicator is the Inverse Fisher Transform version of a nonlag smoothed RSI (RSX) which oscillates between a value of 1 and -1. Values higher than 0.90 will highlight in blue, those below -0.9 will highlight in red.
The Inverse fisher transform enhances the extremes, and it makes the indicators usable for both trend mode as well as the reversal mode.
To add the tool to your chart, select the tool from the Statistical tool group, and left-click on the chart to add the tool. Optuma will then draw the tool in a window below the chart using the default settings.
Scripting Function: NLRSX()
Actions & Properties
Actions
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple NonLag Inverse Fisher Transform of RSX tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other NonLag Inverse Fisher Transform of RSX tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new NonLag Inverse Fisher Transform of RSX to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Properties
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structures Panel.
Period: Set the number of bars used in the initial calculation of the tool.
NonLag Smoothing Period: Set the number of bars used in the average applied to the initial tool values used to smooth the line.
Calc Using: Allows you to set which value of the bar is used in the tools calculation (Close, Open, High, Low, OHLC Average, etc).
Sell Level: Set the value of the sell level horizontal line (0.90 by default).
Base Level: Set the value of the base level horizontal line (0.00 by default).
Buy Level: Set the value of the buy level horizontal line (-0.90 by default).
Plot Style: Adjusts the display style of the NLIFT-RSX. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
Level Style: Allows you to set the colour and display style of the 3 horizontal lines displayed on the tool.
Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show in Price Scale: When selected the current NLIFT-RSX value will be displayed in the Price Scale.