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Re: Ehlers Indicators for MT4

#369
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.

DMH-indicator-mt4png.png

dmh-indicator-mladen-mt4.png

dmh-indicator-tasc-article-preview.png

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.
DMH.mq4
(11.77 KiB) Downloaded 250 times

MagnifyRe: Ehlers Indicators for MT4

#370
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:
Directional Movement w Hann indicator DMH for MT4.png
Ehlers DMH MA Cross Template MT4.zip
(80.44 KiB) Downloaded 228 times
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