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MT5 Ehler's indicators

#1
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.
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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
Image
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DMH.mq5
(8.68 KiB) Downloaded 216 times


Re: MT5 Ehler's indicators

#2
From Mladen Rakic:

In his article in January 2022 issue of TASC, “(Yet Another) Improved RSI,” John Ehlers explains how he enhances the RSI by taking advantage of Hann windowing. The RSIH indicator provides a smoother calculation than the classic RSI and has a zero mean. The inherent smoothing in the computation removes the need for supplemental filtering.

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Compared to built in Rsi

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Recommendations:
* You can use it as any other Rsi indicator
* You can use (since rsi is a momentum family of indicators) the color change for possible momentum change estimation
* You can use zero crosses as an estimation of longer term "trends"
Rsi with Hann.mq5
(8.89 KiB) Downloaded 183 times

Re: MT5 Ehler's indicators

#3
From Mladen Rakic:


In his article in February 2022 issue of TASC, “An Elegant Oscillator: Inverse Fisher Transform Redux,” author John Ehlers explains how he uses the inverse Fisher transform to create an indicator he calls the elegant oscillator.
Image


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Recommendations:
this version is extended compared to original (not using fixed oscillator period and you can freely chose prices)
some experimenting with parameters advised (see the example bellow : red is default, blue is with periods 100,100 - so there is plenty of room for experimenting)
Image
Elegant oscillator.mq5
(9.81 KiB) Downloaded 117 times

Re: MT5 Ehler's indicators

#4
Hi mrtools,
could you please to add alert arrow on chart to cross signal ? Thanks a lot for all
mrtools wrote:
Sat Jan 15, 2022 6:57 am
From Mladen Rakic:


In his article in February 2022 issue of TASC, “An Elegant Oscillator: Inverse Fisher Transform Redux,” author John Ehlers explains how he uses the inverse Fisher transform to create an indicator he calls the elegant oscillator.
Image


Image



Recommendations:
this version is extended compared to original (not using fixed oscillator period and you can freely chose prices)
some experimenting with parameters advised (see the example bellow : red is default, blue is with periods 100,100 - so there is plenty of room for experimenting)
Image

Re: MT5 Ehler's indicators

#5
mrtools wrote:
Sat Jan 15, 2022 6:57 am
From Mladen Rakic:


In his article in February 2022 issue of TASC, “An Elegant Oscillator: Inverse Fisher Transform Redux,” author John Ehlers explains how he uses the inverse Fisher transform to create an indicator he calls the elegant oscillator.
Image


Image



Recommendations:
this version is extended compared to original (not using fixed oscillator period and you can freely chose prices)
some experimenting with parameters advised (see the example bellow : red is default, blue is with periods 100,100 - so there is plenty of room for experimenting)
Image
Just a small change (that affects the way how the oscillator period is used)
Elegant oscillator.mq5
(9.87 KiB) Downloaded 122 times


Re: MT5 Ehler's indicators

#7
From Mladen Rakic

General:

In his article “Correlation As A Trend Indicator” in May 2020 issue of TASC, author John Ehlers introduces a new trend indicator that is based on the correlation between a security’s price history and the ideal trend: a straight line. He describes methods for using the indicator to not only identify the onset of new trends but to identify trend failures as well.

Recommendations:

Ehlers describes a rather strange way of using it (like using asymmetric threshold for buy and sell, in which case it is clear that he was fitting the indicator to the chart - which is never a good idea, hence

* Use 0 line as a criteria for a "trend" (short or long)
* Use crosses of short and long values as a signal to buy or sell


Image

Addition:

You shall find two version of the indicator here:

* one is "regular"
* one is optimized (with an opt in its name)

The reason for that is simple: the regular is using the coding ways that are common (and which are used in every version of that indicator in the TASC). It is a simple and clear code. And it is slower than it should which is important when it comes to normal usage and testing. Hence made the optimized version. I know that some are going to send "angry" PMs (as I was getting already in similar cases) that the code for the optimized version is not understandable as the "regular" version, but:

* results are exactly the same
* optimized version is an average 15-16 times faster than the regular version (which is even partially optimized, since instead of 2 sub-loops only one is used using
default parameters. With longer calculation periods the difference only grows.

Image
Correlation trend indicator.mq5
(6.64 KiB) Downloaded 90 times
Correlation trend indicator (opt).mq5
(12.57 KiB) Downloaded 92 times


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