Compact mode
Pivot Points vs Aroon Up And Down 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 PointsAroon Up and DownElder Impulse SystemAsset 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.
Aroon Up and Down- Identifying Potential Trend ChangesAroon Up and Down is known for Identifying Potential Trend Changes.
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 PointsAroon Up and DownElder 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 PointsAroon Up and DownElder Impulse SystemPopularity 🏆
Indicates how widely used and recognized the indicator is in the trading communityPivot PointsAroon Up and DownElder Impulse System
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
Aroon Up and Down- Developed by Tushar Chande in 1995
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'
Aroon Up and Down- Even Aroon can't predict when your investments will go 'Aroon-d' the bend!
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
Technical Details Comparison
Calculation Method 🧮
The mathematical or analytical approach used to compute the trading indicator's values.Pivot PointsAroon Up and DownElder 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 PointsAroon Up and Down- CrossoversAroon Up and Down generates trading signals through Crossovers. Indicators that generate signals when one line crosses another, indicating trend changes Click to see all.
- DivergencesAroon Up and Down generates trading signals through Divergences. Indicators that show discrepancies between price and indicator movements, suggesting potential reversals Click to see all.
Elder Impulse SystemCustomization 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.
Aroon Up and Down- PeriodAroon Up and Down offers customization options for Period. Enables customization of analysis timeframe Click to see all.
- ThresholdsAroon Up and Down offers customization options for Thresholds. Customizable thresholds for signal generation Click to see all.
Elder 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 PointsAroon Up and DownElder Impulse SystemPurpose 📈
The primary purpose or application of the trading indicatorPivot PointsAroon Up and Down- Trend Strength AnalysisAroon Up and Down is primarily used for Trend Strength Analysis.
- Trend ReversalsAroon Up and Down is primarily used for Trend Reversals. Indicators that help traders spot potential changes in market direction Click to see all.
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 indicatorPivot Points- Easy To CalculateIndicators with straightforward calculation methods for easy implementation Click to see all.
- Widely Used Across Different Markets
Aroon Up and Down- Measures Trend Strength
- Indicates Potential Reversals
- Easy To Interpret
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
Aroon Up and Down- Can Produce False Signals
- Lag In Volatile Markets
- Limited Use In Ranging Markets
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 PointsAroon Up and DownElder Impulse SystemEase of Use Score 💻
A score representing how user-friendly and intuitive the trading indicator isPivot PointsAroon Up and DownElder Impulse SystemVersatility Score 🔀
A score indicating the adaptability of the trading indicator across different markets and timeframesPivot PointsAroon Up and DownElder 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.
Aroon Up and Down- 6.5The customization score for Aroon Up and Down is 6.5 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 PointsAroon Up and DownElder Impulse System
Alternatives to Pivot Points
Elder-Ray Index
Known for Combining Trend And Momentum🔧 is more customizable than Pivot Points
Relative Strength Index (RSI)
Known for Momentum Measurement💯 is more reliable than Pivot Points
Fibonacci Retracement
Known for Golden Ratio In Trading🔧 is more customizable than Pivot Points
Elder Triple Screen
Known for Trend-Momentum Alignment💯 is more reliable than Pivot Points
🔀 is more versatile than Pivot Points
🔧 is more customizable than Pivot Points
Supertrend Indicator
Known for Simplifying Trend Following💯 is more reliable than Pivot Points