Compact mode
Average True Range (ATR) vs Dynamic Momentum Index vs Trend Magic
Table of content
General Information Comparison
Indicator Type 📊
The category or classification of the trading indicator based on its primary function and analysis method.Average True Range (ATR)Dynamic Momentum IndexTrend Magic- TrendTrend Magic 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*Average True Range (ATR)- StocksThe asset classes Average True Range (ATR) is typically used for are Stocks. Indicators optimized for analyzing and predicting stock price movements in equity markets. Click to see all.
- CommoditiesThe asset classes Average True Range (ATR) is typically used for are Commodities. Trading indicators optimized for commodity markets like oil, gold, and agricultural products. Click to see all.
Dynamic Momentum IndexTrend MagicKnown for 💭
The unique selling point or distinguishing feature of the trading indicatorAverage True Range (ATR)- Volatility Without DirectionAverage True Range (ATR) is known for Volatility Without Direction.
Dynamic Momentum Index- Adapting To Market VolatilityDynamic Momentum Index is known for Adapting To Market Volatility.
Trend Magic- Simplifying Trend AnalysisTrend Magic is known for Simplifying Trend Analysis.
Made In 🌍
The country or origin of the trading indicatorAverage True Range (ATR)- 1978Average True Range (ATR) was developed in 1978. Trading indicators specifically developed in 1978
Dynamic Momentum Index- 2000SDynamic Momentum Index was developed in 2000S. Trading indicators developed in the early 21st century
Trend Magic- 2000STrend Magic was developed in 2000S. Trading indicators developed in the early 21st century
Characteristics Comparison
Lagging or Leading 🏁
Indicates whether the trading indicator is a lagging or leading type, reflecting its predictive nature.Average True Range (ATR)- LaggingAverage True Range (ATR) is a Lagging indicator. Indicators that confirm trends after they have started
Dynamic Momentum IndexTrend MagicComplexity Level 🧑
Indicates the level of expertise required to effectively use the indicatorAverage True Range (ATR)Dynamic Momentum IndexTrend MagicPopularity 🏆
Indicates how widely used and recognized the indicator is in the trading communityAverage True Range (ATR)- MediumThe popularity of Average True Range (ATR) among traders is considered Medium. Indicators with balanced adoption and potential effectiveness
Dynamic Momentum Index- LowThe popularity of Dynamic Momentum Index among traders is considered Low. Indicators with lower adoption but potential unique insights
Trend Magic- LowThe popularity of Trend Magic among traders is considered Low. Indicators with lower adoption but potential unique insights
Facts Comparison
Interesting Fact 💡
An intriguing or lesser-known fact about the trading indicatorAverage True Range (ATR)- Part of Welles Wilder's indicators
Dynamic Momentum Index- Created by Tushar Chande to improve upon traditional RSI
Trend Magic- Created by an anonymous trader and gained popularity in online forums
Sarcastic Fact 😉
A humorous or ironic observation about the trading indicatorAverage True Range (ATR)- It's the drama meter of the market - higher values mean more excitement
Dynamic Momentum Index- So dynamic it might leave traditional indicators in the dust
Trend Magic- So magical it might turn your losses into rabbits
Application Comparison
Timeframe 🕑
The time intervals or periods for which the trading indicator is most effective or commonly used.For all*- DailyIndicators optimized for daily chart analysis, suitable for swing and position traders.
- WeeklyIndicators optimized for weekly chart analysis, balancing short-term noise and long-term trends.
Technical Details Comparison
Calculation Method 🧮
The mathematical or analytical approach used to compute the trading indicator's values.Average True Range (ATR)Dynamic Momentum IndexTrend MagicSignal Generation 📊
Describes the methods by which the indicator produces trading signalsAverage True Range (ATR)- ThresholdsAverage True Range (ATR) generates trading signals through Thresholds. Indicators that generate signals when certain predefined levels or conditions are met
Dynamic Momentum Index- CrossoversDynamic Momentum Index generates trading signals through Crossovers. Indicators that generate signals when one line crosses another, indicating trend changes
- ThresholdsDynamic Momentum Index generates trading signals through Thresholds. Indicators that generate signals when certain predefined levels or conditions are met
Trend Magic- Color-Coded SignalsTrend Magic generates trading signals through Color-Coded Signals. Indicators using different colors to represent various trading signals or conditions
Customization Options 🔧
Lists the parameters that can be adjusted to fine-tune the indicatorFor all*Dynamic Momentum IndexTrend Magic
Usage Comparison
For whom 👥
The target audience or user group for the trading indicatorAverage True Range (ATR)Dynamic Momentum Index- Technical AnalystsDynamic Momentum Index is designed for Technical Analysts. Provides comprehensive technical analysis tools, crucial for chart pattern recognition Click to see all.
- Momentum TradersDynamic Momentum Index is designed for Momentum Traders. Identifies and measures strength of price movements, ideal for capturing market momentum Click to see all.
Trend MagicPurpose 📈
The primary purpose or application of the trading indicatorAverage True Range (ATR)Dynamic Momentum Index- Overbought/Oversold ConditionsDynamic Momentum Index is primarily used for Overbought/Oversold Conditions. Indicators that identify extreme market conditions Click to see all.
- Trend StrengthDynamic Momentum Index is primarily used for Trend Strength. Tools that assess the power and momentum behind a market trend Click to see all.
Trend Magic
Evaluation Comparison
Pros 👍
Advantages of using the trading indicatorAverage True Range (ATR)- Useful For Position Sizing
- Helps Set Stop-Losses
Dynamic Momentum Index- Adapts To Changing Market Conditions
- Less Prone To False Signals Than Traditional RSI
Trend Magic- Easy To Interpret Color SignalsIndicators using intuitive color schemes for quick signal interpretation
- Filters Out Minor Price MovementsIndicators that focus on significant price changes, ignoring minor fluctuations
Cons 👎
Disadvantages or limitations of the trading indicatorAverage True Range (ATR)Dynamic Momentum Index- Complex CalculationIndicators with straightforward calculations and easy-to-understand outputs for efficient analysis Click to see all.
- Less Widely Available In Trading Platforms
Trend Magic
Performance Metrics Comparison
Reliability Score 💯
A score indicating the overall reliability of the trading indicatorAverage True Range (ATR)Dynamic Momentum IndexTrend MagicEase of Use Score 💻
A score representing how user-friendly and intuitive the trading indicator isAverage True Range (ATR)Dynamic Momentum IndexTrend MagicVersatility Score 🔀
A score indicating the adaptability of the trading indicator across different markets and timeframesAverage True Range (ATR)Dynamic Momentum IndexTrend MagicCustomization Score 🔧
A score representing the degree of customization available for the trading indicatorAverage True Range (ATR)- 6.5The customization score for Average True Range (ATR) is 6.5 out of 10.
Dynamic Momentum Index- 7The customization score for Dynamic Momentum Index is 7 out of 10.
Trend Magic- 5.5The customization score for Trend Magic is 5.5 out of 10.
Score ⭐
The overall score of the trading indicator based on various performance metricsAverage True Range (ATR)Dynamic Momentum IndexTrend Magic
Alternatives to Average True Range (ATR)
Exponential Moving Average (EMA)
Known for Smooth Price Movements
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is easier to use than Average True Range (ATR)
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is more customizable than Average True Range (ATR)
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is rated higher overall than Average True Range (ATR)
Donchian Channels
Known for Simplicity And Effectiveness
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is more customizable than Average True Range (ATR)
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is rated higher overall than Average True Range (ATR)
Moving Average Envelope
Known for Price Range Visualization
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is easier to use than Average True Range (ATR)
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is more customizable than Average True Range (ATR)
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is rated higher overall than Average True Range (ATR)
Keltner Channels
Known for Combining Moving Averages With Volatility
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is more customizable than Average True Range (ATR)
Elder Triple Screen
Known for Trend-Momentum Alignment
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is more versatile than Average True Range (ATR)
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is more customizable than Average True Range (ATR)
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is rated higher overall than Average True Range (ATR)
Relative Strength Index (RSI)
Known for Momentum Measurement
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is easier to use than Average True Range (ATR)
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is rated higher overall than Average True Range (ATR)
Bollinger Bands
Known for Volatility And Trend Strength
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is more versatile than Average True Range (ATR)
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is more customizable than Average True Range (ATR)
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is rated higher overall than Average True Range (ATR)
Simple Moving Average (SMA)
Known for Smooth Price Movements
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is easier to use than Average True Range (ATR)
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is rated higher overall than Average True Range (ATR)