█ OVERVIEW
Presented here is code for the "Directional Movement w/Hann" indicator originally conceived by John Ehlers. The code is also published in the December 2021 issue of Trader's Tips by Technical Analysis of Stocks & Commodities (TASC) magazine.
Ehlers continues here his exploration of the application of Hann windowing to conventional trading indicators.
█ FEATURES
The rolling length can be modified in the script's inputs, as well as the width of the line.
█ NOTES
Calculations
The calculation starts with the classic definition of PlusDM and MinusDM. These directional movements are summed in an exponential moving average (EMA). Then, this EMA is further smoothed in a finite impulse response (FIR) filter using Hann window coefficients over the calculation period.
Background
The DMI and ADX indicators were designed by J. Welles Wilder and presented in his "New Concepts in Technical Trading Systems" book published in 1978.
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Presented here is code for the "Directional Movement w/Hann" indicator originally conceived by John Ehlers. The code is also published in the December 2021 issue of Trader's Tips by Technical Analysis of Stocks & Commodities (TASC) magazine.
Ehlers continues here his exploration of the application of Hann windowing to conventional trading indicators.
█ FEATURES
The rolling length can be modified in the script's inputs, as well as the width of the line.
█ NOTES
Calculations
The calculation starts with the classic definition of PlusDM and MinusDM. These directional movements are summed in an exponential moving average (EMA). Then, this EMA is further smoothed in a finite impulse response (FIR) filter using Hann window coefficients over the calculation period.
Background
The DMI and ADX indicators were designed by J. Welles Wilder and presented in his "New Concepts in Technical Trading Systems" book published in 1978.
Join TradingView!
Tools and ideas for all Pine coders: tradingview.com/u/PineCoders/
TASC: traders.com/
TASC: traders.com/
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Tools and ideas for all Pine coders: tradingview.com/u/PineCoders/
TASC: traders.com/
TASC: traders.com/
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.