Compact mode
Pivot Points vs Fibonacci Retracement 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.Pivot PointsFibonacci RetracementElder Impulse System- TrendElder Impulse System 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*- 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.
Pivot PointsKnown for 💭
The unique selling point or distinguishing feature of the trading indicatorPivot Points- Identifying Potential Reversal PointsPivot Points is known for Identifying Potential Reversal Points.
Fibonacci Retracement- Golden Ratio In TradingFibonacci Retracement is known for Golden Ratio In Trading.
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 indicatorPivot Points- UnknownPivot Points was developed in Unknown. Indicators with undisclosed country of origin, focusing on performance
Fibonacci Retracement- Ancient TimesFibonacci Retracement was developed in Ancient Times. Trading indicators with roots in historical trading practices
Elder Impulse System
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 indicatorPivot PointsFibonacci RetracementElder Impulse SystemPopularity 🏆
Indicates how widely used and recognized the indicator is in the trading communityPivot Points- HighThe popularity of Pivot Points among traders is considered High. Widely used and trusted indicators in the trading community
Fibonacci Retracement- HighThe popularity of Fibonacci Retracement among traders is considered High. Widely used and trusted indicators in the trading community
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 indicatorPivot Points- Originally used by floor traders in equity and commodity exchanges
Fibonacci Retracement- Based on the Fibonacci sequence found in nature
Elder Impulse System- Created by Dr. Alexander Elder a renowned trading psychologist
Sarcastic Fact 😉
A humorous or ironic observation about the trading indicatorPivot Points- Often jokingly referred to as the 'lazy trader's crystal ball'
Fibonacci Retracement- Traders use it because it sounds smart at cocktail parties
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.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.
Pivot Points- MonthlyPivot Points is most effective for Monthly timeframes. Indicators for long-term trend analysis on monthly charts, suited for position traders.
Technical Details Comparison
Calculation Method 🧮
The mathematical or analytical approach used to compute the trading indicator's values.Pivot PointsFibonacci RetracementElder 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 signalsPivot Points- BreakoutsPivot Points generates trading signals through Breakouts. Indicators that identify when price breaks key levels, signaling potential trends
Fibonacci Retracement- ThresholdsFibonacci Retracement generates trading signals through Thresholds. Indicators that generate signals when certain predefined levels or conditions are met
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 indicatorPivot Points- TimeframePivot Points offers customization options for Timeframe. Adjustable timeframe for versatile analysis Click to see all.
- Calculation MethodPivot Points offers customization options for Calculation Method. Refers to indicators that offer different methods for computing their values. Click to see all.
Fibonacci RetracementElder Impulse System- PeriodElder Impulse System offers customization options for Period. Enables customization of analysis timeframe Click to see all.
- MACD ParametersElder Impulse System offers customization options for MACD Parameters. Allows customization of Moving Average Convergence Divergence parameters Click to see all.
Usage Comparison
For whom 👥
The target audience or user group for the trading indicatorFor all*Pivot PointsElder Impulse SystemPurpose 📈
The primary purpose or application of the trading indicatorPivot PointsFibonacci RetracementElder 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 indicatorPivot Points- Easy To CalculateIndicators with straightforward calculation methods for easy implementation
- Widely Used Across Different Markets
Fibonacci Retracement- Based On Natural Number Sequence
- Widely Used For Support/Resistance
Elder Impulse System- Easy To Interpret Color-Coded Signals
- Combines Trend And Momentum
Cons 👎
Disadvantages or limitations of the trading indicatorPivot Points- Effectiveness Can Vary In Trending MarketsIndicators that may lose effectiveness in strong trends, requiring caution in such market conditions. Click to see all.
- Multiple Calculation Methods Can Lead To Confusion
Fibonacci Retracement- Subjective In ApplicationDescribes indicators that rely significantly on trader interpretation rather than clear-cut signals. Click to see all.
- Requires Context
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 indicatorPivot PointsFibonacci RetracementElder Impulse SystemEase of Use Score 💻
A score representing how user-friendly and intuitive the trading indicator isPivot PointsFibonacci RetracementElder Impulse SystemVersatility Score 🔀
A score indicating the adaptability of the trading indicator across different markets and timeframesPivot PointsFibonacci RetracementElder Impulse SystemCustomization Score 🔧
A score representing the degree of customization available for the trading indicatorPivot Points- 6.5The customization score for Pivot Points is 6.5 out of 10.
Fibonacci Retracement- 7.5The customization score for Fibonacci Retracement is 7.5 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 metricsPivot PointsFibonacci RetracementElder Impulse System
Alternatives to Pivot Points
Elder-Ray Index
Known for Combining Trend And Momentum
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is more customizable than Pivot Points
Relative Strength Index (RSI)
Known for Momentum Measurement
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is more reliable than Pivot Points
Elder Triple Screen
Known for Trend-Momentum Alignment
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is more reliable than Pivot Points
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is more versatile than Pivot Points
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is more customizable than Pivot Points
Supertrend Indicator
Known for Simplifying Trend Following
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is more reliable than Pivot Points