OPEN-SOURCE SCRIPT
Directional Movement w/Hann Slope Change Signal
Modified version of 
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.
John Ehlers is continuing to revamp old indictors with Hann windowing. The original script uses zero line cross to signal buy/sell in this modified version buy/sell is signaled based on slope change, where signal is generated on with previous value is greater/less than current value
If current > previous = buy and if current < previous = sell
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.
John Ehlers is continuing to revamp old indictors with Hann windowing. The original script uses zero line cross to signal buy/sell in this modified version buy/sell is signaled based on slope change, where signal is generated on with previous value is greater/less than current value
If current > previous = buy and if current < previous = sell
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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