Compact mode
Pivot Points vs Elder-Ray Index vs Fibonacci Retracement
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 PointsElder-Ray IndexFibonacci RetracementAsset 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.
Elder-Ray Index- Combining Trend And MomentumElder-Ray Index is known for Combining Trend And Momentum.
Fibonacci Retracement- Golden Ratio In TradingFibonacci Retracement is known for Golden Ratio In Trading.
Made In 🌍
The country or origin of the trading indicatorPivot PointsElder-Ray IndexFibonacci Retracement
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 PointsElder-Ray IndexFibonacci RetracementPopularity 🏆
Indicates how widely used and recognized the indicator is in the trading communityPivot PointsElder-Ray IndexFibonacci Retracement
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
Elder-Ray Index- Created by Dr. Alexander Elder
Fibonacci Retracement- Based on the Fibonacci sequence found in nature
Sarcastic Fact 😉
A humorous or ironic observation about the trading indicatorPivot Points- Often jokingly referred to as the 'lazy trader's crystal ball'
Elder-Ray Index- It's like a doctor's checkup for market health
Fibonacci Retracement- Traders use it because it sounds smart at cocktail parties
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 PointsElder-Ray Index
Technical Details Comparison
Calculation Method 🧮
The mathematical or analytical approach used to compute the trading indicator's values.For all*Elder-Ray Index- OscillatorsElder-Ray Index uses the Oscillators calculation method. Indicators that oscillate between fixed values to show overbought or oversold conditions. 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 signalsPivot PointsElder-Ray Index- DivergencesElder-Ray Index generates trading signals through Divergences. Indicators that show discrepancies between price and indicator movements, suggesting potential reversals Click to see all.
- ThresholdsElder-Ray Index generates trading signals through Thresholds. Indicators that generate signals when certain predefined levels or conditions are met Click to see all.
Fibonacci RetracementCustomization 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.
Elder-Ray Index- PeriodElder-Ray Index offers customization options for Period. Enables customization of analysis timeframe Click to see all.
- 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.
Fibonacci Retracement
Usage Comparison
For whom 👥
The target audience or user group for the trading indicatorFor all*Pivot PointsElder-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.
- 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 indicatorPivot PointsElder-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.
Fibonacci Retracement
Evaluation Comparison
Pros 👍
Advantages of using the trading indicatorPivot Points- Easy To CalculateIndicators with straightforward calculation methods for easy implementation Click to see all.
- Widely Used Across Different Markets
Elder-Ray Index- Provides Clear Buy/Sell SignalsOffers straightforward entry and exit points, simplifying trading decisions Click to see all.
- 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
Fibonacci Retracement- Based On Natural Number Sequence
- Widely Used For Support/Resistance
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
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
Fibonacci Retracement
Performance Metrics Comparison
Reliability Score 💯
A score indicating the overall reliability of the trading indicatorPivot PointsElder-Ray IndexFibonacci RetracementEase of Use Score 💻
A score representing how user-friendly and intuitive the trading indicator isPivot PointsElder-Ray IndexFibonacci RetracementVersatility Score 🔀
A score indicating the adaptability of the trading indicator across different markets and timeframesPivot PointsElder-Ray IndexFibonacci RetracementCustomization 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.
Elder-Ray Index- 7.5The customization score for Elder-Ray Index is 7.5 out of 10.
Fibonacci Retracement- 7.5The customization score for Fibonacci Retracement is 7.5 out of 10.
Score ⭐
The overall score of the trading indicator based on various performance metricsPivot PointsElder-Ray IndexFibonacci Retracement
Alternatives to Pivot Points
Triple Exponential Average (TRIX)
Known for Filtering Out Market Noise💻 is easier to use than Elder-Ray Index
Elder Triple Screen
Known for Trend-Momentum Alignment💯 is more reliable than Elder-Ray Index
🔀 is more versatile than Elder-Ray Index
🔧 is more customizable than Elder-Ray Index
⭐ is rated higher overall than Elder-Ray Index
Elder Impulse System
Known for Combining Trend And Momentum💻 is easier to use than Elder-Ray Index
Awesome Oscillator (AO)
Known for Simplicity And Effectiveness💻 is easier to use than Elder-Ray Index
Momentum Indicator
Known for Price Velocity💻 is easier to use than Elder-Ray Index
Choppiness Index
Known for Identifying Trending Vs Choppy Markets💯 is more reliable than Elder-Ray Index
💻 is easier to use than Elder-Ray Index
🔀 is more versatile than Elder-Ray Index
Chaikin Oscillator
Known for Accumulation/Distribution Trends💯 is more reliable than Elder-Ray Index
💻 is easier to use than Elder-Ray Index