Compact mode
Elder-Ray Index vs Commodity Channel Index (CCI) vs Chande Momentum Oscillator (CMO)
Table of content
General Information Comparison
Indicator Type 📊
The category or classification of the trading indicator based on its primary function and analysis method.For all*Asset Class 💰
Specifies the financial instruments for which the indicator is most commonly usedFor all*- ForexIndicators optimized for currency pair trading in the foreign exchange market.
- CommoditiesTrading indicators optimized for commodity markets like oil, gold, and agricultural products.
Elder-Ray IndexChande Momentum Oscillator (CMO)Known for 💭
The unique selling point or distinguishing feature of the trading indicatorElder-Ray Index- Combining Trend And MomentumElder-Ray Index is known for Combining Trend And Momentum.
Commodity Channel Index (CCI)- Identifying Cyclical TrendsCommodity Channel Index (CCI) is known for Identifying Cyclical Trends.
Chande Momentum Oscillator (CMO)- Momentum MeasurementChande Momentum Oscillator (CMO) is known for Momentum Measurement.
Made In 🌍
The country or origin of the trading indicatorElder-Ray Index- United StatesElder-Ray Index was developed in United States. Indicators developed in the USA, reflecting American trading principles
Commodity Channel Index (CCI)- 1980Commodity Channel Index (CCI) was developed in 1980. Trading indicators created at the start of a new decade
Chande Momentum Oscillator (CMO)
Characteristics Comparison
Lagging or Leading 🏁
Indicates whether the trading indicator is a lagging or leading type, reflecting its predictive nature.For all*Complexity Level 🧑
Indicates the level of expertise required to effectively use the indicatorElder-Ray IndexCommodity Channel Index (CCI)Chande Momentum Oscillator (CMO)Popularity 🏆
Indicates how widely used and recognized the indicator is in the trading communityElder-Ray Index- MediumThe popularity of Elder-Ray Index among traders is considered Medium. Indicators with balanced adoption and potential effectiveness
Commodity Channel Index (CCI)- MediumThe popularity of Commodity Channel Index (CCI) among traders is considered Medium. Indicators with balanced adoption and potential effectiveness
Chande Momentum Oscillator (CMO)- LowThe popularity of Chande Momentum Oscillator (CMO) 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 indicatorElder-Ray Index- Created by Dr. Alexander Elder
Commodity Channel Index (CCI)- Originally developed for commodities
Chande Momentum Oscillator (CMO)- Developed by Tushar Chande in 1994
Sarcastic Fact 😉
A humorous or ironic observation about the trading indicatorElder-Ray Index- It's like a doctor's checkup for market health
Commodity Channel Index (CCI)- It's like a mood ring for the market - changes color frequently
Chande Momentum Oscillator (CMO)- It's the yoga of momentum indicators - flexible but disciplined
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.
Elder-Ray Index- AnyElder-Ray Index is most effective for Any timeframes. Flexible indicators adaptable to various trading timeframes, offering versatility in analysis.
Technical Details Comparison
Calculation Method 🧮
The mathematical or analytical approach used to compute the trading indicator's values.For all*Elder-Ray Index- Price-BasedElder-Ray Index uses the Price-Based calculation method. Indicators focusing on price movements and patterns for market analysis. Click to see all.
- Moving AveragesElder-Ray Index uses the Moving Averages calculation method. Indicators combining different moving averages for comprehensive trend analysis. Click to see all.
Signal Generation 📊
Describes the methods by which the indicator produces trading signalsFor all*- ThresholdsIndicators that generate signals when certain predefined levels or conditions are met
Elder-Ray Index- DivergencesElder-Ray Index generates trading signals through Divergences. Indicators that show discrepancies between price and indicator movements, suggesting potential reversals
Commodity Channel Index (CCI)- BreakoutsCommodity Channel Index (CCI) generates trading signals through Breakouts. Indicators that identify when price breaks key levels, signaling potential trends
Chande Momentum Oscillator (CMO)- DivergencesChande Momentum Oscillator (CMO) generates trading signals through Divergences. Indicators that show discrepancies between price and indicator movements, suggesting potential reversals
Customization Options 🔧
Lists the parameters that can be adjusted to fine-tune the indicatorFor all*Elder-Ray Index- EMA LengthElder-Ray Index offers customization options for EMA Length. Allows customization of Exponential Moving Average calculation period Click to see all.
- MA TypeElder-Ray Index offers customization options for MA Type. Allows choice between different moving average calculations Click to see all.
- EMA PeriodElder-Ray Index offers customization options for EMA Period. Enables adjustment of Exponential Moving Average time frame Click to see all.
- Lookback PeriodElder-Ray Index offers customization options for Lookback Period. Enables adjustment of historical data analysis timeframe Click to see all.
Commodity Channel Index (CCI)Chande Momentum Oscillator (CMO)
Usage Comparison
For whom 👥
The target audience or user group for the trading indicatorElder-Ray Index- Experienced TradersElder-Ray Index is designed for Experienced Traders. Sophisticated tools for seasoned traders to gain deeper market insights Click to see all.
- Day TradersElder-Ray Index is designed for Day Traders. Tools optimized for short-term intraday trading decisions Click to see all.
- Swing TradersElder-Ray Index is designed for Swing Traders. Identifies medium-term trends and potential reversal points, ideal for multi-day positions Click to see all.
- Market AnalystsElder-Ray Index is designed for Market Analysts. Provides comprehensive market insights, useful for in-depth analysis and forecasting Click to see all.
Commodity Channel Index (CCI)Chande Momentum Oscillator (CMO)Purpose 📈
The primary purpose or application of the trading indicatorElder-Ray Index- Market Strength AnalysisElder-Ray Index is primarily used for Market Strength Analysis.
- Trend StrengthElder-Ray Index is primarily used for Trend Strength. Tools that assess the power and momentum behind a market trend Click to see all.
- Entry/Exit PointsElder-Ray Index is primarily used for Entry/Exit Points. Indicators for optimal trade entry and exit Click to see all.
- Overbought/Oversold ConditionsElder-Ray Index is primarily used for Overbought/Oversold Conditions. Indicators that identify extreme market conditions Click to see all.
Commodity Channel Index (CCI)Chande Momentum Oscillator (CMO)
Evaluation Comparison
Pros 👍
Advantages of using the trading indicatorElder-Ray Index- Provides Clear Buy/Sell SignalsOffers straightforward entry and exit points, simplifying trading decisions
- Helps Identify Trend Strength
- Combines Trend And Momentum Analysis
- Helps Identify Potential Reversals
- Separates Buying And Selling Pressure
- Good For Identifying Potential Reversals
- Combines Trend And Momentum
- Identifies Market Strength/Weakness
- Useful For Multiple Timeframes
Commodity Channel Index (CCI)- Effective For Overbought/Oversold Conditions
- Useful For Multiple Asset Classes
Chande Momentum Oscillator (CMO)- Less Prone To WhipsawsMinimizes false signals in volatile markets, improving trade accuracy
- Effective In Trending Markets
Cons 👎
Disadvantages or limitations of the trading indicatorElder-Ray Index- Complex CalculationIndicators with straightforward calculations and easy-to-understand outputs for efficient analysis Click to see all.
- Requires Understanding Of Multiple Concepts
- Can Be Complex For BeginnersEasy-to-understand indicators suitable for traders new to technical analysis. Click to see all.
- Requires Understanding Of Multiple ComponentsIndicates that some indicators involve several elements that need to be understood for effective use. Click to see all.
- Can Be Less Effective In Strongly Trending MarketsIndicators that maintain effectiveness during strong trends, providing reliable signals Click to see all.
- Requires Understanding Of Moving AveragesRefers to indicators that need a solid grasp of moving average concepts for effective use. Click to see all.
- Complex For BeginnersIndicators that are easy to understand and use for novice traders, facilitating learning and strategy development Click to see all.
- Requires Additional Confirmation
- Can Produce False Signals
Commodity Channel Index (CCI)- Can Produce False Signals In Non-Trending Markets
Chande Momentum Oscillator (CMO)
Performance Metrics Comparison
Reliability Score 💯
A score indicating the overall reliability of the trading indicatorElder-Ray IndexCommodity Channel Index (CCI)Chande Momentum Oscillator (CMO)Ease of Use Score 💻
A score representing how user-friendly and intuitive the trading indicator isElder-Ray IndexCommodity Channel Index (CCI)Chande Momentum Oscillator (CMO)Versatility Score 🔀
A score indicating the adaptability of the trading indicator across different markets and timeframesElder-Ray IndexCommodity Channel Index (CCI)Chande Momentum Oscillator (CMO)Customization Score 🔧
A score representing the degree of customization available for the trading indicatorElder-Ray Index- 7.5The customization score for Elder-Ray Index is 7.5 out of 10.
Commodity Channel Index (CCI)- 7The customization score for Commodity Channel Index (CCI) is 7 out of 10.
Chande Momentum Oscillator (CMO)- 7The customization score for Chande Momentum Oscillator (CMO) is 7 out of 10.
Score ⭐
The overall score of the trading indicator based on various performance metricsElder-Ray IndexCommodity Channel Index (CCI)Chande Momentum Oscillator (CMO)
Alternatives to Elder-Ray Index
Money Flow Index (MFI)
Known for Volume And Price Movements
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is more reliable than Commodity Channel Index (CCI)
Ultimate Oscillator
Known for Multi-Timeframe Analysis
🔀
is more versatile than Commodity Channel Index (CCI)
Percentage Price Oscillator (PPO)
Known for Relative Strength Measurement
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is more versatile than Commodity Channel Index (CCI)
🔧
is more customizable than Commodity Channel Index (CCI)
⭐
is rated higher overall than Commodity Channel Index (CCI)
Hull Moving Average (HMA)
Known for Reducing Lag In Moving Averages
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is more reliable than Commodity Channel Index (CCI)
⭐
is rated higher overall than Commodity Channel Index (CCI)
Elder Triple Screen
Known for Trend-Momentum Alignment
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is more reliable than Commodity Channel Index (CCI)
🔀
is more versatile than Commodity Channel Index (CCI)
🔧
is more customizable than Commodity Channel Index (CCI)
⭐
is rated higher overall than Commodity Channel Index (CCI)
Volume Oscillator
Known for Volume Divergence
💯
is more reliable than Commodity Channel Index (CCI)
Triple Exponential Average (TRIX)
Known for Filtering Out Market Noise
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is more reliable than Commodity Channel Index (CCI)
Average Directional Index (ADX)
Known for Trend Strength Without Direction
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is more reliable than Commodity Channel Index (CCI)