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TASC 2021.12 Directional Movement w/Hann

█ 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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Average Directional Index (ADX)Directional Movement Index (DMI)hanntasc

开源脚本

本着真正的TradingView精神,此脚本的作者已将其开源,以便交易者可以理解和验证它。向作者致敬!您可以免费使用它,但在出版物中重复使用此代码受网站规则约束。 您可以收藏它以在图表上使用。

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