indicator · own pane · open source

Ehlers Inverse Fisher RSI

Deepwick · @deepwickv1Updated 2 Oct 2026▲ 0 users

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About

Ehlers Inverse Fisher RSI — maps RSI through a hyperbolic tan so its values cluster at ±1 instead of being squished inside 30–70. The ±0.5 bands are the 'real' overbought / oversold levels.

Cleaner than raw RSI on ranging assets; great filter for mean-reversion.

Source code

//@version=5
indicator("Ehlers Inverse Fisher RSI", overlay=false)
len = input.int(14, "RSI length", minval=2, maxval=100)
rsi = ta.rsi(close, len)
v = 0.1 * (rsi - 50)
ifrs = (math.exp(2 * v) - 1) / (math.exp(2 * v) + 1)
hline(0.5, "OB", color=color.gray)
hline(-0.5, "OS", color=color.gray)
p_IF_RSI = plot(ifrs, "IF RSI", color=color.purple, linewidth=2)
alertcondition(ta.crossover(ifrs, 0.5), "Inverse-Fisher OB", "IF-RSI above 0.5")
alertcondition(ta.crossunder(ifrs, -0.5), "Inverse-Fisher OS", "IF-RSI below -0.5")

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