Compact mode
Directional Movement Index (DMI) vs Hull Moving Average (HMA) vs Elder Impulse System
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*- TrendIndicators that help identify and confirm market trends
Asset Class 💰
Specifies the financial instruments for which the indicator is most commonly usedFor all*- StocksIndicators optimized for analyzing and predicting stock price movements in equity markets.
- ForexIndicators optimized for currency pair trading in the foreign exchange market.
- CommoditiesTrading indicators optimized for commodity markets like oil, gold, and agricultural products.
Hull Moving Average (HMA)Known for 💭
The unique selling point or distinguishing feature of the trading indicatorDirectional Movement Index (DMI)- Strength Of Price MovementDirectional Movement Index (DMI) is known for Strength Of Price Movement.
Hull Moving Average (HMA)- Reducing Lag In Moving AveragesHull Moving Average (HMA) is known for Reducing Lag In Moving Averages.
Elder Impulse System- Combining Trend And MomentumElder Impulse System is known for Combining Trend And Momentum.
Made In 🌍
The country or origin of the trading indicatorDirectional Movement Index (DMI)- United StatesDirectional Movement Index (DMI) was developed in United States. Indicators developed in the USA, reflecting American trading principles
Hull Moving Average (HMA)- AustraliaHull Moving Average (HMA) was developed in Australia. Trading indicators developed by Australian market analysts
Elder Impulse System
Characteristics Comparison
Lagging or Leading 🏁
Indicates whether the trading indicator is a lagging or leading type, reflecting its predictive nature.Directional Movement Index (DMI)- LaggingDirectional Movement Index (DMI) is a Lagging indicator. Indicators that confirm trends after they have started
Hull Moving Average (HMA)Elder Impulse SystemComplexity Level 🧑
Indicates the level of expertise required to effectively use the indicatorFor all*Popularity 🏆
Indicates how widely used and recognized the indicator is in the trading communityDirectional Movement Index (DMI)- HighThe popularity of Directional Movement Index (DMI) among traders is considered High. Widely used and trusted indicators in the trading community
Hull Moving Average (HMA)- MediumThe popularity of Hull Moving Average (HMA) among traders is considered Medium. Indicators with balanced adoption and potential effectiveness
Elder Impulse System- MediumThe popularity of Elder Impulse System among traders is considered Medium. Indicators with balanced adoption and potential effectiveness
Facts Comparison
Interesting Fact 💡
An intriguing or lesser-known fact about the trading indicatorDirectional Movement Index (DMI)- Developed by J. Welles Wilder Jr. who also created RSI
Hull Moving Average (HMA)- Developed by Alan Hull to address the lag in traditional moving averages
Elder Impulse System- Created by Dr. Alexander Elder a renowned trading psychologist
Sarcastic Fact 😉
A humorous or ironic observation about the trading indicatorDirectional Movement Index (DMI)- Sometimes called the 'trend trader's best friend' despite its complexity
Hull Moving Average (HMA)- Humorously called the 'moving average on steroids' by some traders
Elder Impulse System- Traffic light for traders: green means go red means stop blue means nap time
Application Comparison
Timeframe 🕑
The time intervals or periods for which the trading indicator is most effective or commonly used.Directional Movement Index (DMI)- DailyDirectional Movement Index (DMI) is most effective for Daily timeframes. Indicators optimized for daily chart analysis, suitable for swing and position traders.
Hull Moving Average (HMA)- AnyHull Moving Average (HMA) is most effective for Any timeframes. Flexible indicators adaptable to various trading timeframes, offering versatility in analysis.
Elder Impulse System- DailyElder Impulse System is most effective for Daily timeframes. Indicators optimized for daily chart analysis, suitable for swing and position traders.
- WeeklyElder Impulse System is most effective for Weekly timeframes. Indicators 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.Directional Movement Index (DMI)Hull Moving Average (HMA)Elder Impulse System- Moving AveragesElder Impulse System uses the Moving Averages calculation method. Indicators combining different moving averages for comprehensive trend analysis. Click to see all.
- MACDElder Impulse System uses the MACD calculation method. Indicators utilizing Moving Average Convergence Divergence for trend and momentum analysis. Click to see all.
Signal Generation 📊
Describes the methods by which the indicator produces trading signalsDirectional Movement Index (DMI)- CrossoversDirectional Movement Index (DMI) generates trading signals through Crossovers. Indicators that generate signals when one line crosses another, indicating trend changes
- ThresholdsDirectional Movement Index (DMI) generates trading signals through Thresholds. Indicators that generate signals when certain predefined levels or conditions are met
Hull Moving Average (HMA)- CrossoversHull Moving Average (HMA) generates trading signals through Crossovers. Indicators that generate signals when one line crosses another, indicating trend changes
- BreakoutsHull Moving Average (HMA) generates trading signals through Breakouts. Indicators that identify when price breaks key levels, signaling potential trends
Elder Impulse System- Color-Coded BarsElder Impulse System generates trading signals through Color-Coded Bars. Indicators that color price bars to reflect specific market conditions or signals
Customization Options 🔧
Lists the parameters that can be adjusted to fine-tune the indicatorFor all*Directional Movement Index (DMI)Elder Impulse System
Usage Comparison
For whom 👥
The target audience or user group for the trading indicatorDirectional Movement Index (DMI)Hull Moving Average (HMA)Elder Impulse System- Day TradersElder Impulse System is designed for Day Traders. Tools optimized for short-term intraday trading decisions Click to see all.
- Swing TradersElder Impulse System is designed for Swing Traders. Identifies medium-term trends and potential reversal points, ideal for multi-day positions Click to see all.
Purpose 📈
The primary purpose or application of the trading indicatorDirectional Movement Index (DMI)Hull Moving Average (HMA)Elder Impulse System- Entry/Exit PointsElder Impulse System is primarily used for Entry/Exit Points. Indicators for optimal trade entry and exit Click to see all.
- Trend ConfirmationElder Impulse System is primarily used for Trend Confirmation. Indicators that validate the strength and direction of price movements Click to see all.
Evaluation Comparison
Pros 👍
Advantages of using the trading indicatorDirectional Movement Index (DMI)- Combines Multiple IndicatorsIndicators that integrate multiple data points for comprehensive analysis
- Measures Both Trend Direction And Strength
Hull Moving Average (HMA)- Responds Quickly To Price Changes
- Reduces Lag SignificantlyProvides more timely signals, improving trade timing and potentially increasing profits
Elder Impulse System- Easy To Interpret Color-Coded Signals
- Combines Trend And Momentum
Cons 👎
Disadvantages or limitations of the trading indicatorDirectional Movement Index (DMI)- Can Produce False Signals In Choppy MarketsIndicators that minimize false signals in erratic or indecisive market conditions 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.
Hull Moving Average (HMA)- Can Be Overly Sensitive In Volatile Markets
- Less Commonly Available In Trading PlatformsIndicators not widely available in trading platforms, potentially limiting their use for some traders. Click to see all.
Elder Impulse System- Can Produce False Signals In Ranging Markets
- Requires Understanding Of Multiple Indicators
Performance Metrics Comparison
Reliability Score 💯
A score indicating the overall reliability of the trading indicatorDirectional Movement Index (DMI)Hull Moving Average (HMA)Elder Impulse SystemEase of Use Score 💻
A score representing how user-friendly and intuitive the trading indicator isDirectional Movement Index (DMI)Hull Moving Average (HMA)Elder Impulse SystemVersatility Score 🔀
A score indicating the adaptability of the trading indicator across different markets and timeframesDirectional Movement Index (DMI)Hull Moving Average (HMA)Elder Impulse SystemCustomization Score 🔧
A score representing the degree of customization available for the trading indicatorDirectional Movement Index (DMI)- 7.5The customization score for Directional Movement Index (DMI) is 7.5 out of 10.
Hull Moving Average (HMA)- 7The customization score for Hull Moving Average (HMA) is 7 out of 10.
Elder Impulse System- 6The customization score for Elder Impulse System is 6 out of 10.
Score ⭐
The overall score of the trading indicator based on various performance metricsDirectional Movement Index (DMI)Hull Moving Average (HMA)Elder Impulse System
Alternatives to Directional Movement Index (DMI)
Rate Of Change (ROC)
Known for Speed Of Price Changes
💻
is easier to use than Hull Moving Average (HMA)
Exponential Moving Average (EMA)
Known for Smooth Price Movements
💻
is easier to use than Hull Moving Average (HMA)
⭐
is rated higher overall than Hull Moving Average (HMA)
Elder Triple Screen
Known for Trend-Momentum Alignment
🔀
is more versatile than Hull Moving Average (HMA)
🔧
is more customizable than Hull Moving Average (HMA)
⭐
is rated higher overall than Hull Moving Average (HMA)
Rainbow Moving Average
Known for Visual Representation Of Multiple Timeframes
🔧
is more customizable than Hull Moving Average (HMA)
Moving Average Envelope
Known for Price Range Visualization
💻
is easier to use than Hull Moving Average (HMA)
🔧
is more customizable than Hull Moving Average (HMA)
Moving Average Convergence Divergence (MACD)
Known for Trend Strength And Direction
💻
is easier to use than Hull Moving Average (HMA)
🔀
is more versatile than Hull Moving Average (HMA)