Compact mode
Elder Triple Screen vs Average True Range (ATR) vs Choppiness Index
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)Choppiness IndexAsset 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.
Choppiness Index- Identifying Trending Vs Choppy MarketsChoppiness Index is known for Identifying Trending Vs Choppy Markets.
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
Choppiness Index- United StatesChoppiness Index was developed in United States. Indicators developed in the USA, reflecting American trading principles
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 ScreenChoppiness IndexComplexity Level 🧑
Indicates the level of expertise required to effectively use the indicatorElder Triple ScreenAverage True Range (ATR)Choppiness IndexPopularity 🏆
Indicates how widely used and recognized the indicator is in the trading communityElder Triple Screen- MediumThe popularity of Elder Triple Screen 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
Choppiness Index- LowThe popularity of Choppiness Index 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 Triple Screen- Developed by Dr. Alexander Elder as a complete trading system
Average True Range (ATR)- Part of Welles Wilder's indicators
Choppiness Index- Ranges from 0 to 100
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
Choppiness Index- It's like a weather forecast for market conditions
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.Elder Triple Screen- Moving AveragesElder Triple Screen uses the Moving Averages calculation method. Indicators combining different moving averages for comprehensive trend analysis. Click to see all.
- OscillatorsElder Triple Screen uses the Oscillators calculation method. Indicators that oscillate between fixed values to show overbought or oversold conditions. Click to see all.
Average True Range (ATR)Choppiness IndexSignal 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
Choppiness Index- ThresholdsChoppiness Index 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 ScreenChoppiness Index
Usage Comparison
For whom 👥
The target audience or user group for the trading indicatorElder Triple ScreenAverage True Range (ATR)Choppiness Index- Advanced TradersChoppiness Index is designed for Advanced Traders. Sophisticated tools for experienced traders to analyze complex market patterns Click to see all.
- Trend TradersChoppiness Index is designed for Trend Traders. Highlights direction and strength of market trends, crucial for trend-based strategies Click to see all.
- Volatility TradersChoppiness Index is designed for Volatility Traders. Measures and predicts market volatility, essential for volatility-based strategies Click to see all.
Purpose 📈
The primary purpose or application of the trading indicatorElder Triple ScreenAverage True Range (ATR)Choppiness Index- Market Condition AnalysisChoppiness Index is primarily used for Market Condition Analysis. Indicators that assess overall market state and behavior Click to see all.
- Trend Strength AnalysisChoppiness Index is primarily used for Trend Strength Analysis.
- Range-Bound Markets IdentificationChoppiness Index is primarily used for Range-Bound Markets Identification. Indicators that detect sideways price movements Click to see all.
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
Choppiness Index- Helps Determine Market ConditionsIndicators assisting in identifying current market states and environments
- Useful For Strategy Selection
- Identifies Trending Vs Choppy MarketsHelps differentiate between directional and range-bound markets, aiding strategy selection
- Helps In Strategy Selection
- Applicable To Multiple Markets
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)Choppiness Index- Complex CalculationIndicators with straightforward calculations and easy-to-understand outputs for efficient analysis Click to see all.
- Requires Understanding Of Market Dynamics
- Less KnownIndicators not widely recognized, potentially offering unique insights but with limited community support. Click to see all.
- Requires Combination With Other IndicatorsIndicates that some indicators work best when used in conjunction with other technical tools. Click to see all.
- Can Be Lagging In Fast MarketsIndicators designed to provide early signals in rapidly changing market conditions. Click to see all.
Performance Metrics Comparison
Reliability Score 💯
A score indicating the overall reliability of the trading indicatorElder Triple ScreenAverage True Range (ATR)Choppiness IndexEase of Use Score 💻
A score representing how user-friendly and intuitive the trading indicator isElder Triple ScreenAverage True Range (ATR)Choppiness IndexVersatility Score 🔀
A score indicating the adaptability of the trading indicator across different markets and timeframesElder Triple ScreenAverage True Range (ATR)Choppiness IndexCustomization 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.
Choppiness Index- 7The customization score for Choppiness Index is 7 out of 10.
Score ⭐
The overall score of the trading indicator based on various performance metricsElder Triple ScreenAverage True Range (ATR)Choppiness Index
Alternatives to Elder Triple Screen
Elder-Ray Index
Known for Combining Trend And Momentum
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is easier to use than Elder Triple Screen
Ichimoku Cloud
Known for All-In-One Indicator
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Moving Average Envelope
Known for Price Range Visualization
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Triple Exponential Average (TRIX)
Known for Filtering Out Market Noise
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Fast Stochastic
Known for Rapid Momentum Shifts
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Know Sure Thing (KST)
Known for Trend Strength Measurement
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Awesome Oscillator (AO)
Known for Simplicity And Effectiveness
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is easier to use than Elder Triple Screen
Average Directional Index (ADX)
Known for Trend Strength Without Direction
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is easier to use than Elder Triple Screen
Chaikin Oscillator
Known for Accumulation/Distribution Trends
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is easier to use than Elder Triple Screen
Exponential Moving Average (EMA)
Known for Smooth Price Movements
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is easier to use than Elder Triple Screen
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is rated higher overall than Elder Triple Screen