Compact mode
Elder Triple Screen vs Percentage Price Oscillator (PPO) vs Elder-Ray 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.For all*Elder Triple Screen- TrendElder Triple Screen 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*Elder Triple Screen- ForexThe asset classes Elder Triple Screen is typically used for are Forex. Indicators optimized for currency pair trading in the foreign exchange market. Click to see all.
- CommoditiesThe asset classes Elder Triple Screen is typically used for are Commodities. Trading indicators optimized for commodity markets like oil, gold, and agricultural products. Click to see all.
Percentage Price Oscillator (PPO)Elder-Ray Index- ForexThe asset classes Elder-Ray Index is typically used for are Forex. Indicators optimized for currency pair trading in the foreign exchange market. Click to see all.
- CommoditiesThe asset classes Elder-Ray Index is typically used for are Commodities. Trading indicators optimized for commodity markets like oil, gold, and agricultural products. Click to see 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.
Percentage Price Oscillator (PPO)- Relative Strength MeasurementPercentage Price Oscillator (PPO) is known for Relative Strength Measurement.
Elder-Ray Index- Combining Trend And MomentumElder-Ray Index is known for Combining Trend And Momentum.
Made In 🌍
The country or origin of the trading indicatorFor all*- United StatesIndicators 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*Elder Triple Screen- LaggingElder Triple Screen is a Lagging indicator. Indicators that confirm trends after they have started
Complexity Level 🧑
Indicates the level of expertise required to effectively use the indicatorElder Triple ScreenPercentage Price Oscillator (PPO)Elder-Ray IndexPopularity 🏆
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
Percentage Price Oscillator (PPO)- Similar to MACD but uses percentage for comparison
Elder-Ray Index- Created by Dr. Alexander Elder
Sarcastic Fact 😉
A humorous or ironic observation about the trading indicatorElder Triple Screen- Jokingly referred to as the "three-headed monster" of trading systems
Percentage Price Oscillator (PPO)- It's the MACD's hipster cousin
Elder-Ray Index- It's like a doctor's checkup for market health
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.
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 Triple ScreenElder-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*- DivergencesIndicators that show discrepancies between price and indicator movements, suggesting potential reversals
Elder Triple Screen- CrossoversElder Triple Screen generates trading signals through Crossovers. Indicators that generate signals when one line crosses another, indicating trend changes
- BreakoutsElder Triple Screen generates trading signals through Breakouts. Indicators that identify when price breaks key levels, signaling potential trends
Percentage Price Oscillator (PPO)- CrossoversPercentage Price Oscillator (PPO) generates trading signals through Crossovers. Indicators that generate signals when one line crosses another, indicating trend changes
Elder-Ray Index- ThresholdsElder-Ray 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 ScreenPercentage Price Oscillator (PPO)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.
Usage Comparison
For whom 👥
The target audience or user group for the trading indicatorElder Triple ScreenPercentage Price Oscillator (PPO)Elder-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.
Purpose 📈
The primary purpose or application of the trading indicatorElder Triple ScreenPercentage Price Oscillator (PPO)- Comparing Momentum Across AssetsPercentage Price Oscillator (PPO) is primarily used for Comparing Momentum Across Assets.
Elder-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.
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
Percentage Price Oscillator (PPO)- Useful For Comparing Assets
- Adaptable To Different Timeframes
Elder-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
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.
Percentage Price Oscillator (PPO)- Can Produce False Signals In Ranging Markets
- Requires Context
Elder-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
Performance Metrics Comparison
Reliability Score 💯
A score indicating the overall reliability of the trading indicatorElder Triple ScreenPercentage Price Oscillator (PPO)Elder-Ray IndexEase of Use Score 💻
A score representing how user-friendly and intuitive the trading indicator isElder Triple ScreenPercentage Price Oscillator (PPO)Elder-Ray IndexVersatility Score 🔀
A score indicating the adaptability of the trading indicator across different markets and timeframesElder Triple ScreenPercentage Price Oscillator (PPO)Elder-Ray 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.
Percentage Price Oscillator (PPO)- 7.5The customization score for Percentage Price Oscillator (PPO) is 7.5 out of 10.
Elder-Ray Index- 7.5The customization score for Elder-Ray Index is 7.5 out of 10.
Score ⭐
The overall score of the trading indicator based on various performance metricsElder Triple ScreenPercentage Price Oscillator (PPO)Elder-Ray Index
Alternatives to Elder Triple Screen
Ichimoku Cloud
Known for All-In-One Indicator
💻
is easier to use than Elder Triple Screen
Awesome Oscillator (AO)
Known for Simplicity And Effectiveness
💻
is easier to use than Elder Triple Screen
Fast Stochastic
Known for Rapid Momentum Shifts
💻
is easier to use than Elder Triple Screen
Moving Average Envelope
Known for Price Range Visualization
💻
is easier to use than Elder Triple Screen
Triple Exponential Average (TRIX)
Known for Filtering Out Market Noise
💻
is easier to use than Elder Triple Screen
Know Sure Thing (KST)
Known for Trend Strength Measurement
💻
is easier to use than Elder Triple Screen
Average Directional Index (ADX)
Known for Trend Strength Without Direction
💻
is easier to use than Elder Triple Screen
Guppy Multiple Moving Average
Known for Visualizing Short-Term And Long-Term Trends
💻
is easier to use than Elder Triple Screen
Exponential Moving Average (EMA)
Known for Smooth Price Movements
💻
is easier to use than Elder Triple Screen
⭐
is rated higher overall than Elder Triple Screen
Chaikin Oscillator
Known for Accumulation/Distribution Trends
💻
is easier to use than Elder Triple Screen