Compact mode
Ichimoku Cloud vs Average True Range (ATR) 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.Ichimoku Cloud- TrendIchimoku Cloud is a Trend type indicator. Indicators that help identify and confirm market trends
Average True Range (ATR)Trend 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*Ichimoku CloudAverage 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.
Trend MagicKnown for 💭
The unique selling point or distinguishing feature of the trading indicatorIchimoku Cloud- All-In-One IndicatorIchimoku Cloud is known for All-In-One Indicator.
Average True Range (ATR)- Volatility Without DirectionAverage True Range (ATR) is known for Volatility Without Direction.
Trend Magic- Simplifying Trend AnalysisTrend Magic is known for Simplifying Trend Analysis.
Made In 🌍
The country or origin of the trading indicatorIchimoku CloudAverage True Range (ATR)- 1978Average True Range (ATR) was developed in 1978. Trading indicators specifically developed in 1978
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.Ichimoku CloudAverage True Range (ATR)- LaggingAverage True Range (ATR) is a Lagging indicator. Indicators that confirm trends after they have started
Trend MagicComplexity Level 🧑
Indicates the level of expertise required to effectively use the indicatorIchimoku CloudAverage True Range (ATR)Trend MagicPopularity 🏆
Indicates how widely used and recognized the indicator is in the trading communityIchimoku Cloud- MediumThe popularity of Ichimoku Cloud among traders is considered Medium. Indicators with balanced adoption and potential effectiveness
Average True Range (ATR)- MediumThe popularity of Average True Range (ATR) among traders is considered Medium. Indicators with balanced adoption and potential effectiveness
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 indicatorIchimoku Cloud- Created by Japanese journalist Goichi Hosoda
Average True Range (ATR)- Part of Welles Wilder's indicators
Trend Magic- Created by an anonymous trader and gained popularity in online forums
Sarcastic Fact 😉
A humorous or ironic observation about the trading indicatorIchimoku Cloud- It's like a weather forecast for your trades - often wrong but never in doubt
Average True Range (ATR)- It's the drama meter of the market - higher values mean more excitement
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.For all*Signal Generation 📊
Describes the methods by which the indicator produces trading signalsIchimoku Cloud- CrossoversIchimoku Cloud generates trading signals through Crossovers. Indicators that generate signals when one line crosses another, indicating trend changes
- BreakoutsIchimoku Cloud 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
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*Trend Magic
Usage Comparison
For whom 👥
The target audience or user group for the trading indicatorIchimoku CloudAverage True Range (ATR)Trend MagicPurpose 📈
The primary purpose or application of the trading indicatorIchimoku Cloud- Multiple Aspects Of MarketIchimoku Cloud is primarily used for Multiple Aspects Of Market.
Average True Range (ATR)Trend Magic
Evaluation Comparison
Pros 👍
Advantages of using the trading indicatorIchimoku Cloud- Provides Multiple Signals
- Forward-LookingIndicators designed to anticipate future market movements
Average True Range (ATR)- Useful For Position Sizing
- Helps Set Stop-Losses
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 indicatorIchimoku Cloud- Complex To Interpret
- Clutters Charts
Average True Range (ATR)Trend Magic
Performance Metrics Comparison
Reliability Score 💯
A score indicating the overall reliability of the trading indicatorIchimoku CloudAverage True Range (ATR)Trend MagicEase of Use Score 💻
A score representing how user-friendly and intuitive the trading indicator isIchimoku CloudAverage True Range (ATR)Trend MagicVersatility Score 🔀
A score indicating the adaptability of the trading indicator across different markets and timeframesIchimoku CloudAverage True Range (ATR)Trend MagicCustomization Score 🔧
A score representing the degree of customization available for the trading indicatorIchimoku Cloud- 7.5The customization score for Ichimoku Cloud is 7.5 out of 10.
Average True Range (ATR)- 6.5The customization score for Average True Range (ATR) is 6.5 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 metricsIchimoku CloudAverage True Range (ATR)Trend Magic
Alternatives to Ichimoku Cloud
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)
Keltner Channels
Known for Combining Moving Averages With Volatility
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is more customizable 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)
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)
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)
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)
Choppiness Index
Known for Identifying Trending Vs Choppy Markets
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is more versatile than Average True Range (ATR)
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is more customizable than Average True Range (ATR)