The Sharpe ratio allows you to see whether or not an investment has historically provided a return appropriate to its risk level. A Sharpe ratio above one is acceptable, above 2 is good, and above 3 is excellent. A Sharpe ratio less than one would indicate that an investment has not returned a high enough return to justify the risk of holding it. Interesting in...
Direct port of the original Fisher Transform to TradingView: media.johnwiley.com.au
This might be better suited to be combined with other indicator to be effective, such as the Fisher Transform of RSI.
I hope you have found this useful :)...
With thanks to luminaryfi for this indicator calculates basic metrics and statistics for a multi-asset portfolio. Note that returns are plotted after being multiplied by 100 in order allow the series to be visible against the other statistics.
USE ON DAILY TIMEFRAME TO DETECT MOMO STOCKS & ETFs AND TRADE THEM
This Strategy goes long when Sharpe Ratio is > 1 and Alpha against the S&P500 is generated. It exits when conditions break away. Strategy can be adapted to run intraday, it however needs different (lower) trigger levels.
examples to try this on: GER30, NAS100, JPN225, AAPL, IBB, TSLA, etc.