Compact mode
Pivot Points vs Elder Triple Screen vs Price Channel
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 Triple Screen- TrendElder Triple Screen is a Trend type indicator. Indicators that help identify and confirm market trends Click to see all.
- MomentumElder Triple Screen is a Momentum type indicator. Measures rate of price change, ideal for identifying strong trends Click to see all.
Price ChannelAsset 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.
- CommoditiesTrading indicators optimized for commodity markets like oil, gold, and agricultural products.
Pivot Points- ForexThe asset classes Pivot Points is typically used for are Forex. Indicators optimized for currency pair trading in the foreign exchange market. Click to see all.
- FuturesThe asset classes Pivot Points is typically used for are Futures. Indicators designed for trading futures contracts across various asset classes. Click to see all.
Elder Triple ScreenPrice ChannelKnown 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 Triple Screen- Trend-Momentum AlignmentElder Triple Screen is known for Trend-Momentum Alignment.
Price Channel- Range-Bound TradingPrice Channel is known for Range-Bound Trading.
Made In 🌍
The country or origin of the trading indicatorPivot PointsElder Triple ScreenPrice Channel
Characteristics Comparison
Lagging or Leading 🏁
Indicates whether the trading indicator is a lagging or leading type, reflecting its predictive nature.Pivot PointsElder Triple Screen- LaggingElder Triple Screen is a Lagging indicator. Indicators that confirm trends after they have started Click to see all.
- LeadingElder Triple Screen is a Leading indicator. Indicators that predict future price movements Click to see all.
Price ChannelComplexity Level 🧑
Indicates the level of expertise required to effectively use the indicatorPivot PointsElder Triple ScreenPrice ChannelPopularity 🏆
Indicates how widely used and recognized the indicator is in the trading communityPivot PointsElder Triple ScreenPrice Channel
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 Triple Screen- Developed by Dr. Alexander Elder as a complete trading system
Price Channel- Originally popularized by Richard Donchian in the 1950s
Sarcastic Fact 😉
A humorous or ironic observation about the trading indicatorPivot Points- Often jokingly referred to as the 'lazy trader's crystal ball'
Elder Triple Screen- Jokingly referred to as the "three-headed monster" of trading systems
Price Channel- Sometimes called the "rich man's Bollinger Bands" due to its simplicity
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 Triple Screen
Technical Details Comparison
Calculation Method 🧮
The mathematical or analytical approach used to compute the trading indicator's values.Pivot PointsElder 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.
Price ChannelSignal Generation 📊
Describes the methods by which the indicator produces trading signalsFor all*Elder 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.
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.
Elder Triple Screen- PeriodElder Triple Screen offers customization options for Period. Enables customization of analysis timeframe Click to see all.
- Indicator SelectionElder Triple Screen offers customization options for Indicator Selection. Allows traders to choose specific indicators for analysis Click to see all.
Price Channel
Usage Comparison
For whom 👥
The target audience or user group for the trading indicatorPivot Points- Day TradersPivot Points is designed for Day Traders. Tools optimized for short-term intraday trading decisions Click to see all.
- Swing TradersPivot Points is designed for Swing Traders. Identifies medium-term trends and potential reversal points, ideal for multi-day positions Click to see all.
Elder Triple ScreenPrice ChannelPurpose 📈
The primary purpose or application of the trading indicatorPivot PointsElder Triple ScreenPrice Channel- Trend Strength AssessmentPrice Channel is primarily used for Trend Strength Assessment.
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 Triple Screen- Combines Multiple Indicators For ConfirmationIndicators that use multiple signals to confirm trading decisions Click to see all.
- Reduces False Signals
Price Channel- Easy To Interpret VisuallyIndicators with clear visual representations for quick market analysis Click to see all.
- Useful For Identifying Breakouts
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 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.
Price Channel- Can Be Slow To React To Trend Changes
- May Generate False Signals In Choppy Markets
Performance Metrics Comparison
Reliability Score 💯
A score indicating the overall reliability of the trading indicatorPivot PointsElder Triple ScreenPrice ChannelEase of Use Score 💻
A score representing how user-friendly and intuitive the trading indicator isPivot PointsElder Triple ScreenPrice ChannelVersatility Score 🔀
A score indicating the adaptability of the trading indicator across different markets and timeframesPivot PointsElder Triple ScreenPrice ChannelCustomization 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 Triple Screen- 8.5 🥇Best customizable trading indicatorThe customization score for Elder Triple Screen is 8.5 out of 10.
Price Channel- 5.5The customization score for Price Channel is 5.5 out of 10.
Score ⭐
The overall score of the trading indicator based on various performance metricsPivot PointsElder Triple ScreenPrice Channel
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
Supertrend Indicator
Known for Simplifying Trend Following💯 is more reliable than Pivot Points