[PYenner]

Chimp1_2.mq4
Has the weight set at 5 as Sundowner suggested and the colour corrected to Lime (which is actually true green). If you want the red and green to look stronger, increase their line thickness to 2.
There was a problem with the previous setting of 8, the smoothing gives time delay and you have the momentum indicator still showing green while you can see that the price is dropping. Using 5 reduces the problem but does not fix it.
You still need to close on a peak, when in an ideal world with a momentum oscillator, you would close and perhaps reverse on a zero crossing.
But the smoothing means that the indicator is showing a mixture of momentum and something like past prices.
Ideal may not matter, so long as your trading rule can cope with the limitations of the tools you are using.

Chimp1_3.mq4
A more volatile version that you may end up trashing, but before you trash it try increasing the smoothing weights and you may find a compromise you like.
Volatility is dangerous, the whole idea of an HE was to keep you from trading small swings. This indicator exaggerates small swings and that can have you trying to trade price swings that are smaller than the momentum swings. Dangerous and maybe stressful dealing with frequent "false alarm" swings.
Momentum x Time = price movement.
Its about how long the momentum signal stays on one side of the zero line.
Its not just about the first flick, its about which side it stays on.
Fast swings mean the price is going nowhere, stay out.

It has its uses but interpretation and rules may be important with this one to keep you out of trouble. Experiment with the settings, faster and slower, maybe find something that works for you. This one is more about trading the live ticks than looking at historical bars. The faster settings make it harder to interpret reliably (can drive you nuts).

Don't trade with 1_3 on its own, use 1_2 as your main guide maybe.
Having copies running in a 5min chart may also give you a useful perspective to balance the 1min view.

[walterw]

Hi Bruce... I am taking a look at this chimp stuff...

Could chimp 3 include a Weight DX input variable ? so far testing all this oscillators... nice job Bruce... cheers Walter.

[PYenner]

Chimp1_4.mq4
Added WeightDX and WeightOut.
If large numbers are used with WeightDX it can cause "directional confusion", sharp little movements from plus to minus.
WeightOut can partly smooth these out but causes delays.
So many possibilities...
Not sure if something might be done to fix the "confusion".
Having both numbers high might produce something like an HE, ignores the small stuff, shows the pulls?

Still has the adxbars thing left out though.

[PYenner]

Chimp1_4.mq4
Second time lucky.
It ULd it but forgot to attach it??

[walterw]

Originally Posted by PYenner »

Chimp1_4.mq4
Second time lucky.
It ULd it but forgot to attach it??

Now, this is a very interesting piece of oscillator we got here...

interestingly more positive above 0 plotting... find curious aplications to this funny mountains he creates... happy today its saturday, got time to play with this... cheers the Chimp.

[PYenner]

Chimp2_1.mq4
This is a hybrid, halfway between price and price/volume.
Chimp2_2.mq4
This uses price/volume instead of price.

The vma versions have not been done yet.

If there is such a thing as smart money, then Chimp2 is more likely to show it up than Chimp1, will the differences have a tactical significance?

[walterw]

I asume Bruce, weight out is just a smoother, is it ?

[PYenner]

Originally Posted by walterw »

I asume Bruce, weight out is just a smoother, is it ?

Yes just a visual smoother for the displayed line.
Yes the "directional bias" is not good, it would need some thinking to figure out a fix.
This may be the source of the glitches that have bugged me all the way through...