Hi,
Cyclic loadings can be categorized basically into 2 types: proportional loading and non-proportional loading. Proportional loading are any combination of cyclic loads for which the direction of the principal stresses DO NOT change over time. Non-proportional loading are that one that change the principal stress direction over time.
The von Mises Fatigue Criterion, that can be applied ONLY to proportional loading. This criterion can not correctly predict the fatigue life of components subject to non-proportional loading. In some softwares, this criterion is called as "signed von Mises Fatigue Criterion" because the von Mises stress receive the same sign of the 1st principal stress, as mentioned by "dculp1". This is the case of software "MSC.Fatigue" and "nCode".
This criterion can be used to solve problems of proportional loading that have mean stress different from zero. The book "Multiaxial Fatigue" of "Darrell Socie et al." says this on pg 132. The book "Metal Fatigue Analysis Handbook" of "Yung-Li Lee" also shows this on pg 171. So, when mean stress are present, the engineer just need to use SWT, FKM, Goodman or other mean stress correction method to consider the effect of the mean stress. The von Mises Fatigue Criterion is also applicable to uniaxial fatigue problems.
There are dozens of Multiaxial Fatigue Criteria that can be used to solve problems of non-proportional loading. The image attached shows the name of some of these criteria. I recommend to use Findley Criterion to solve this type of problem. This criterion is based on the famous theory of "Critical Plane". But you can use other criteria like McDiarmid, for example. The "Dang Van Criterion" has become well-known in the past years; this is because it has been introduced in some known commercial FE-Fatigue softwares as "nCode Design Life" and "fe-safe". But take care: the Dang Van Criterion are not able to calculate the LIFE (in cycles) that your component will last. This criterion is a "zero or one" criterion, i.e., it only indicate if a component will have an infinite life or if there will occur a fracture.
I hope I have helped in some way.
Regards.
Bruno