mql5/Indicators/MyIndicators/Ehlers_Smoother_Momentum_Pro.md

Ehlers Smoother Momentum Professional

1. Summary (Introduction)

The Ehlers Smoother Momentum Pro is a versatile oscillator that applies one of John Ehlers' advanced filters—the SuperSmoother or the UltimateSmoother—to a momentum source (Close - Open) instead of the price.

While the standard Ehlers_Smoother_Pro provides a smoothed representation of the trend, this indicator isolates and smooths the bar-by-bar momentum. The user can choose which smoothing engine to use, allowing for a trade-off between responsiveness and smoothness in the final oscillator.

• SuperSmoother Mode (Default): Creates an exceptionally smooth momentum oscillator that is excellent for identifying the main momentum swings while filtering out minor noise. Its zero-crosses are reliable, albeit slightly lagging, timing signals.
• UltimateSmoother Mode: Creates a faster, more responsive momentum oscillator with near-zero lag, which reacts very quickly to changes in momentum.

2. Mathematical Foundations and Calculation Logic

The indicator is a smoothed average of the Close - Open value of each bar, using one of two advanced recursive filters.

Calculation Steps (Algorithm)

1. Calculate Momentum Source: For each bar, the source data is calculated as Momentum = Close - Open.
2. Apply Ehlers Smoother: A SuperSmoother or UltimateSmoother filter is calculated on this Momentum data series, based on the user's selection.

3. MQL5 Implementation Details

• Unified Calculator (Ehlers_Smoother_Calculator.mqh): This indicator uses the exact same, powerful calculator engine as the Ehlers_Smoother_Pro. The only difference is that it is initialized in SOURCE_MOMENTUM mode.
• Heikin Ashi Integration: The indicator fully supports calculation on smoothed Heikin Ashi data (HA Close - HA Open).
• Stability via Full Recalculation: The indicator employs a full recalculation on every OnCalculate call to ensure the stateful, recursive calculation is always stable.

4. Parameters

• Smoother Type (InpSmootherType): Allows the user to select the filter for the momentum calculation: SUPERSMOOTHER or ULTIMATESMOOTHER.
• Period (InpPeriod): The critical period of the selected filter, which controls its smoothing and responsiveness.
• Candle Source (InpCandleSource): Selects between Standard and Heikin Ashi candles for the Close - Open calculation.

5. Usage and Interpretation

The Ehlers Smoother Momentum is a zero-mean oscillator used for identifying momentum shifts and potential reversals.

Standalone Usage

• Zero-Line Crossover: This is the primary signal.
  • A cross above the zero line indicates that bullish momentum is taking control.
  • A cross below the zero line indicates that bearish momentum is dominant.
  • The SuperSmoother mode provides smoother, more confirmed crossover signals, while the UltimateSmoother mode provides faster, earlier signals.
• Divergence: Divergences between the price and the oscillator are powerful reversal signals, particularly clear in the smoother SuperSmoother mode.

Combined Strategy with Ehlers Smoother (Primary Use)

This oscillator is designed to be used in conjunction with its companion indicator, the Ehlers_Smoother_Pro.

• The Zero-Cross Predicts the Smoother's Turning Point:
  • Buy Signal: When the Smoother Momentum line crosses above the zero line, it signals that the Ehlers Smoother on the main chart is forming a trough (a bottom).
  • Sell Signal: When the Smoother Momentum line crosses below the zero line, it signals that the Ehlers Smoother is forming a peak (a top).

This strategy allows a trader to use the momentum oscillator as a leading indicator to anticipate the turning points of the smoother, lagging filter on the price chart.