Compact mode
Elder Triple Screen vs Average True Range (ATR) vs Average Directional Index (ADX)
Table of content
General Information Comparison
Indicator Type 📊
The category or classification of the trading indicator based on its primary function and analysis method.Elder Triple Screen- TrendElder Triple Screen is a Trend type indicator. Indicators that help identify and confirm market trends
- MomentumElder Triple Screen is a Momentum type indicator. Measures rate of price change, ideal for identifying strong trends Click to see all.
Average True Range (ATR)Average Directional Index (ADX)- TrendAverage Directional Index (ADX) is a Trend type indicator. Indicators that help identify and confirm market trends
Asset Class 💰
Specifies the financial instruments for which the indicator is most commonly usedFor all*Known for 💭
The unique selling point or distinguishing feature of the trading indicatorElder Triple Screen- Trend-Momentum AlignmentElder Triple Screen is known for Trend-Momentum Alignment.
Average True Range (ATR)- Volatility Without DirectionAverage True Range (ATR) is known for Volatility Without Direction.
Average Directional Index (ADX)- Trend Strength Without DirectionAverage Directional Index (ADX) is known for Trend Strength Without Direction.
Made In 🌍
The country or origin of the trading indicatorElder Triple Screen- United StatesElder Triple Screen was developed in United States. Indicators developed in the USA, reflecting American trading principles
Average True Range (ATR)- 1978Average True Range (ATR) was developed in 1978. Trading indicators specifically developed in 1978
Average Directional Index (ADX)- 1978Average Directional Index (ADX) was developed in 1978. Trading indicators specifically developed in 1978
Characteristics Comparison
Lagging or Leading 🏁
Indicates whether the trading indicator is a lagging or leading type, reflecting its predictive nature.For all*- LaggingIndicators that confirm trends after they have started
Elder Triple ScreenComplexity Level 🧑
Indicates the level of expertise required to effectively use the indicatorElder Triple ScreenAverage True Range (ATR)Average Directional Index (ADX)Popularity 🏆
Indicates how widely used and recognized the indicator is in the trading communityFor all*- MediumIndicators with balanced adoption and potential effectiveness
Facts Comparison
Interesting Fact 💡
An intriguing or lesser-known fact about the trading indicatorElder Triple Screen- Developed by Dr. Alexander Elder as a complete trading system
Average True Range (ATR)- Part of Welles Wilder's indicators
Average Directional Index (ADX)- Part of the Directional Movement System
Sarcastic Fact 😉
A humorous or ironic observation about the trading indicatorElder Triple Screen- Jokingly referred to as the "three-headed monster" of trading systems
Average True Range (ATR)- It's the drama meter of the market - higher values mean more excitement
Average Directional Index (ADX)- It's like a gym membership - tells you how strong the trend is but not where it's going
Application Comparison
Timeframe 🕑
The time intervals or periods for which the trading indicator is most effective or commonly used.For all*- WeeklyIndicators optimized for weekly chart analysis, balancing short-term noise and long-term trends.
- DailyIndicators optimized for daily chart analysis, suitable for swing and position traders.
Elder Triple Screen- HourlyElder Triple Screen is most effective for Hourly timeframes. Indicators tailored for hourly chart analysis, ideal for day traders and short-term strategies.
Technical Details Comparison
Calculation Method 🧮
The mathematical or analytical approach used to compute the trading indicator's values.For all*Elder Triple ScreenSignal Generation 📊
Describes the methods by which the indicator produces trading signalsElder Triple Screen- CrossoversElder Triple Screen generates trading signals through Crossovers. Indicators that generate signals when one line crosses another, indicating trend changes
- DivergencesElder Triple Screen generates trading signals through Divergences. Indicators that show discrepancies between price and indicator movements, suggesting potential reversals
- BreakoutsElder Triple Screen generates trading signals through Breakouts. Indicators that identify when price breaks key levels, signaling potential trends
Average True Range (ATR)- ThresholdsAverage True Range (ATR) generates trading signals through Thresholds. Indicators that generate signals when certain predefined levels or conditions are met
Average Directional Index (ADX)- ThresholdsAverage Directional Index (ADX) generates trading signals through Thresholds. Indicators that generate signals when certain predefined levels or conditions are met
Customization Options 🔧
Lists the parameters that can be adjusted to fine-tune the indicatorFor all*Elder Triple Screen
Usage Comparison
For whom 👥
The target audience or user group for the trading indicatorElder Triple ScreenAverage True Range (ATR)Average Directional Index (ADX)Purpose 📈
The primary purpose or application of the trading indicatorElder Triple ScreenAverage True Range (ATR)Average Directional Index (ADX)
Evaluation Comparison
Pros 👍
Advantages of using the trading indicatorElder Triple Screen- Combines Multiple Indicators For ConfirmationIndicators that use multiple signals to confirm trading decisions
- Reduces False Signals
Average True Range (ATR)- Useful For Position Sizing
- Helps Set Stop-Losses
Average Directional Index (ADX)- Effective For Identifying Strong Trends
- Non-DirectionalProvides market insights without predicting price direction, useful for various strategies
Cons 👎
Disadvantages or limitations of the trading indicatorElder Triple Screen- Requires Understanding Of Multiple Indicators
- Can Be Complex For BeginnersEasy-to-understand indicators suitable for traders new to technical analysis. Click to see all.
Average True Range (ATR)Average Directional Index (ADX)
Performance Metrics Comparison
Ease of Use Score 💻
A score representing how user-friendly and intuitive the trading indicator isElder Triple ScreenAverage True Range (ATR)Average Directional Index (ADX)Versatility Score 🔀
A score indicating the adaptability of the trading indicator across different markets and timeframesElder Triple ScreenAverage True Range (ATR)Average Directional Index (ADX)Customization Score 🔧
A score representing the degree of customization available for the trading indicatorElder Triple Screen- 8.5 🥇Best customizable trading indicatorThe customization score for Elder Triple Screen is 8.5 out of 10.
Average True Range (ATR)- 6.5The customization score for Average True Range (ATR) is 6.5 out of 10.
Average Directional Index (ADX)- 6.5The customization score for Average Directional Index (ADX) is 6.5 out of 10.
Score ⭐
The overall score of the trading indicator based on various performance metricsElder Triple ScreenAverage True Range (ATR)Average Directional Index (ADX)
Alternatives to Elder Triple Screen
Exponential Moving Average (EMA)
Known for Smooth Price Movements
💻
is easier to use than Average True Range (ATR)
🔧
is more customizable than Average True Range (ATR)
⭐
is rated higher overall than Average True Range (ATR)
Relative Strength Index (RSI)
Known for Momentum Measurement
💻
is easier to use than Average True Range (ATR)
⭐
is rated higher overall than Average True Range (ATR)
Keltner Channels
Known for Combining Moving Averages With Volatility
🔧
is more customizable than Average True Range (ATR)
Donchian Channels
Known for Simplicity And Effectiveness
🔧
is more customizable than Average True Range (ATR)
⭐
is rated higher overall than Average True Range (ATR)
Moving Average Envelope
Known for Price Range Visualization
💻
is easier to use than Average True Range (ATR)
🔧
is more customizable than Average True Range (ATR)
⭐
is rated higher overall than Average True Range (ATR)
Bollinger Bands
Known for Volatility And Trend Strength
🔀
is more versatile than Average True Range (ATR)
🔧
is more customizable than Average True Range (ATR)
⭐
is rated higher overall than Average True Range (ATR)
Choppiness Index
Known for Identifying Trending Vs Choppy Markets
🔀
is more versatile than Average True Range (ATR)
🔧
is more customizable than Average True Range (ATR)
Simple Moving Average (SMA)
Known for Smooth Price Movements
💻
is easier to use than Average True Range (ATR)
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is rated higher overall than Average True Range (ATR)