Compact mode
Elder Triple Screen vs Directional Movement Index (DMI) vs Moving Average Envelope
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 ScreenAsset 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.
Directional Movement Index (DMI)- Strength Of Price MovementDirectional Movement Index (DMI) is known for Strength Of Price Movement.
Moving Average Envelope- Price Range VisualizationMoving Average Envelope is known for Price Range Visualization.
Characteristics Comparison
Lagging or Leading 🏁
Indicates whether the trading indicator is a lagging or leading type, reflecting its predictive nature.For all*Elder Triple ScreenComplexity Level 🧑
Indicates the level of expertise required to effectively use the indicatorElder Triple ScreenDirectional Movement Index (DMI)Moving Average EnvelopePopularity 🏆
Indicates how widely used and recognized the indicator is in the trading communityElder Triple ScreenDirectional Movement Index (DMI)Moving Average Envelope
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
Directional Movement Index (DMI)- Developed by J. Welles Wilder Jr. who also created RSI
Moving Average Envelope- Envelopes typically use 2% above and below the moving average
Sarcastic Fact 😉
A humorous or ironic observation about the trading indicatorElder Triple Screen- Jokingly referred to as the "three-headed monster" of trading systems
Directional Movement Index (DMI)- Sometimes called the 'trend trader's best friend' despite its complexity
Moving Average Envelope- Often mistaken for Bollinger Bands by novice traders
Application Comparison
Timeframe 🕑
The time intervals or periods for which the trading indicator is most effective or commonly used.For all*Elder Triple Screen- WeeklyElder Triple Screen is most effective for Weekly timeframes. Indicators optimized for weekly chart analysis, balancing short-term noise and long-term trends. Click to see all.
- HourlyElder Triple Screen is most effective for Hourly timeframes. Indicators tailored for hourly chart analysis, ideal for day traders and short-term strategies. Click to see all.
Moving Average Envelope
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.
Directional Movement Index (DMI)Moving Average EnvelopeSignal 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 Click to see all.
- DivergencesElder Triple Screen generates trading signals through Divergences. Indicators that show discrepancies between price and indicator movements, suggesting potential reversals Click to see all.
- BreakoutsElder Triple Screen generates trading signals through Breakouts. Indicators that identify when price breaks key levels, signaling potential trends Click to see all.
Directional Movement Index (DMI)- CrossoversDirectional Movement Index (DMI) generates trading signals through Crossovers. Indicators that generate signals when one line crosses another, indicating trend changes Click to see all.
- ThresholdsDirectional Movement Index (DMI) generates trading signals through Thresholds. Indicators that generate signals when certain predefined levels or conditions are met Click to see all.
Moving Average EnvelopeCustomization Options 🔧
Lists the parameters that can be adjusted to fine-tune the indicatorFor all*Elder Triple ScreenDirectional Movement Index (DMI)Moving Average Envelope
Usage Comparison
For whom 👥
The target audience or user group for the trading indicatorElder Triple ScreenDirectional Movement Index (DMI)Moving Average EnvelopePurpose 📈
The primary purpose or application of the trading indicatorElder Triple ScreenDirectional Movement Index (DMI)Moving Average Envelope
Evaluation Comparison
Pros 👍
Advantages of using the trading indicatorElder Triple Screen- Combines Multiple Indicators For ConfirmationIndicators that use multiple signals to confirm trading decisions Click to see all.
- Reduces False Signals
Directional Movement Index (DMI)- Combines Multiple IndicatorsIndicators that integrate multiple data points for comprehensive analysis Click to see all.
- Measures Both Trend Direction And Strength
Moving Average EnvelopeCons 👎
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.
Directional 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.
Moving Average Envelope- Can Be Late In Signaling Trend ReversalsIndicators that excel in early trend reversal detection, minimizing delays in signaling changes Click to see all.
- Effectiveness Varies In Different Market Conditions
Performance Metrics Comparison
Reliability Score 💯
A score indicating the overall reliability of the trading indicatorElder Triple ScreenDirectional Movement Index (DMI)Moving Average EnvelopeEase of Use Score 💻
A score representing how user-friendly and intuitive the trading indicator isElder Triple ScreenDirectional Movement Index (DMI)Moving Average EnvelopeVersatility Score 🔀
A score indicating the adaptability of the trading indicator across different markets and timeframesElder Triple ScreenDirectional Movement Index (DMI)Moving Average EnvelopeCustomization 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.
Directional Movement Index (DMI)- 7.5The customization score for Directional Movement Index (DMI) is 7.5 out of 10.
Moving Average Envelope- 7.5The customization score for Moving Average Envelope is 7.5 out of 10.
Score ⭐
The overall score of the trading indicator based on various performance metricsElder Triple ScreenDirectional Movement Index (DMI)Moving Average Envelope
Alternatives to Elder Triple Screen
Moving Average Convergence Divergence (MACD)
Known for Trend Strength And Direction💻 is easier to use than Directional Movement Index (DMI)
🔀 is more versatile than Directional Movement Index (DMI)
Hull Moving Average (HMA)
Known for Reducing Lag In Moving Averages💻 is easier to use than Directional Movement Index (DMI)
Exponential Moving Average (EMA)
Known for Smooth Price Movements💻 is easier to use than Directional Movement Index (DMI)
⭐ is rated higher overall than Directional Movement Index (DMI)
Simple Moving Average (SMA)
Known for Smooth Price Movements💻 is easier to use than Directional Movement Index (DMI)
Bollinger Bands
Known for Volatility And Trend Strength💻 is easier to use than Directional Movement Index (DMI)
🔀 is more versatile than Directional Movement Index (DMI)
🔧 is more customizable than Directional Movement Index (DMI)
⭐ is rated higher overall than Directional Movement Index (DMI)
Aroon Indicator
Known for Measuring Time Between Highs And Lows💻 is easier to use than Directional Movement Index (DMI)