mrtools wrote: Thu Nov 18, 2021 4:34 am Do you want to add to the existing alert or change the existing to a zero cross.

I would like to add it as another option onto the existing alert

keys898 wrote: Thu Nov 18, 2021 4:53 am I would like to add it as another option onto the existing alert

Added a zero cross option.

Thank you for all the help Mr.Tools

mrtools wrote: Thu Nov 18, 2021 6:03 am Added a zero cross option.

it says theres an error with the compiler
"'cross' - undeclared identifier Ehlers Fisher transform 2.42 mtf.mq4 207 31

keys898 wrote: Thu Nov 18, 2021 7:31 am it says theres an error with the compiler
"'cross' - undeclared identifier Ehlers Fisher transform 2.42 mtf.mq4 207 31

Sorry about that, please redownload it.

mrtools wrote: Thu Nov 18, 2021 10:07 am Sorry about that, please redownload it.

Works great. Thank you.

From Mladen Rakic -

In the December 2021 issue of TASC article “The DMH: An Improved Directional Movement Indicator”, John Ehlers explores a method of modernizing directional movement with Hann windowing.

Directional movement has been a mainstay in technical analysis and has been an examined concept by traders for decades. When the original directional movement indicator was created by J. Welles Wilder, technology did not easily allow for complex calculations.

Ehlers proposes it is time for an upgrade. While the DMH indicator defaults to using Wilder’s 14 bars, Ehlers suggests the length should be at the discretion of the trader or can be determined by optimization if the DMH is used in a strategy.




Recommendations:

in this version compared to the original additional color changes added :

• color change on slope change
• color change on zero line cross
• and no color change (as in the original)

Use it as Ehlers recommends it or use color changes for possible signals
some experimenting with DMH period recommended before using it

PS: For the chart setup used in our Daily Downloads page, please see here: Directional Movement w/Hann DMH + MA Cross.

mrtools wrote: Thu Nov 18, 2021 2:02 pm Use it as Ehlers recommends it or use color changes for possible signals
some experimenting with DMH period recommended before using it

Thank you Mrtools for being so kind to share it over here.

Currently experimenting with it, so far I've utilized a Moving Average to help with the entries. It will be interesting to see how this code develops and if other traders find it working for them

If anyone is interested, here's a DMH + Moving Average template for MT4:

Jimmy wrote: Thu Nov 18, 2021 7:30 pm

Thanks!
One could argue that you don't need a second MA because you already have colour change on slope change (which gives earlier signals than a second MA; albeit sometimes less trustworthy) - but then everyone trades differently.

Many people don't want to confront this fact (because they glorify Mladen for all the extraordinary work he has done):
I think this one has better signals than Mladen's indies normally have but still:
let's assume you know in which direction you want to trade in each instance (by using e. g. higher TF for directional bias):
Does this indicator give better signals than the MT4 built-in MA?
My advice: compare Mladen's indicators to one by MrTools (for example: Jurik Volty bands).
I think you will find that - for now - it produces better signals most of the time.

mrtools wrote: Thu Nov 18, 2021 2:02 pm In the December 2021 issue of TASC article “The DMH: An Improved Directional Movement Indicator”, John Ehlers explores a method of modernizing directional movement with Hann windowing.

Hi MrTools,

I have an idea - not sure if its worth it but could you code 2 lines instead of one(short length and long length) and color change when short length is above/below long length. MTF as a bonus