Fisher Transform_(COLOR)

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © dotradingwithtrend


//@version=4
study(title="Fisher Transform_(COLOR)", shorttitle="#dotradingwithtrend", format=format.price, precision=2, resolution="")
len = input(10, minval=1, title="Length")

high_ = highest(hl2, len)
low_ = lowest(hl2, len)

round_(val) => val > .99 ? .999 : val < -.99 ? -.999 : val

value = 0.0
value := round_(.66 * ((hl2 - low_) / max(high_ - low_, .001) - .5) + .67 * nz(value[1]))

fish1 = 0.0
fish1 := .5 * log((1 + value) / max(1 - value, .001)) + .5 * nz(fish1[1])

fish2 = fish1[1]

hline(1.5, "1.5", color=#FFC5B5)
hline(0.75, "0.75", color=#C6C6C6)

hline(-0.75, "-0.75", color=#C6C6C6)
hline(-1.5, "-1.5", color=#FFC5B5)

col1 = fish1 > fish2 ? #36f30c : fish1 < fish2 ? #ff0707 : color.yellow
plot(fish1, color=col1, style=hline.style_solid, linewidth=3, title="Fisher")
plot(fish2, color=color.aqua, style=hline.style_solid, linewidth=2, title="Trigger")
plot(0, "0", color=col1, linewidth=2)