Compact mode
Elder-Ray Index vs Ultimate Oscillator vs Relative Vigor Index (RVI)
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*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.
Elder-Ray IndexKnown for 💭
The unique selling point or distinguishing feature of the trading indicatorElder-Ray Index- Combining Trend And MomentumElder-Ray Index is known for Combining Trend And Momentum.
Ultimate Oscillator- Multi-Timeframe AnalysisUltimate Oscillator is known for Multi-Timeframe Analysis.
Relative Vigor Index (RVI)- Trend ConfirmationRelative Vigor Index (RVI) is known for Trend Confirmation.
Made In 🌍
The country or origin of the trading indicatorElder-Ray IndexUltimate OscillatorRelative Vigor Index (RVI)
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 indicatorElder-Ray IndexUltimate OscillatorRelative Vigor Index (RVI)Popularity 🏆
Indicates how widely used and recognized the indicator is in the trading communityElder-Ray IndexUltimate OscillatorRelative Vigor Index (RVI)
Facts Comparison
Interesting Fact 💡
An intriguing or lesser-known fact about the trading indicatorElder-Ray Index- Created by Dr. Alexander Elder
Ultimate Oscillator- Created by Larry Williams in 1976
Relative Vigor Index (RVI)- Developed by John Ehlers
Sarcastic Fact 😉
A humorous or ironic observation about the trading indicatorElder-Ray Index- It's like a doctor's checkup for market health
Ultimate Oscillator- It's like a three-course meal of technical analysis
Relative Vigor Index (RVI)- It's like measuring the market's caffeine intake
Application Comparison
Timeframe 🕑
The time intervals or periods for which the trading indicator is most effective or commonly used.For all*Elder-Ray Index- WeeklyElder-Ray Index is most effective for Weekly timeframes. Indicators optimized for weekly chart analysis, balancing short-term noise and long-term trends. Click to see all.
- AnyElder-Ray Index is most effective for Any timeframes. Flexible indicators adaptable to various trading timeframes, offering versatility in analysis. Click to see all.
Relative Vigor Index (RVI)
Technical Details Comparison
Calculation Method 🧮
The mathematical or analytical approach used to compute the trading indicator's values.For all*Elder-Ray Index- Price-BasedElder-Ray Index uses the Price-Based calculation method. Indicators focusing on price movements and patterns for market analysis. 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 signalsFor all*Elder-Ray IndexUltimate OscillatorRelative Vigor Index (RVI)Customization Options 🔧
Lists the parameters that can be adjusted to fine-tune the indicatorFor all*Elder-Ray Index- 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.
Ultimate OscillatorRelative Vigor Index (RVI)
Usage Comparison
For whom 👥
The target audience or user group for the trading indicatorElder-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.
- Swing TradersElder-Ray Index is designed for Swing Traders. Identifies medium-term trends and potential reversal points, ideal for multi-day positions 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.
Ultimate OscillatorRelative Vigor Index (RVI)Purpose 📈
The primary purpose or application of the trading indicatorElder-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.
Ultimate Oscillator- Reducing False DivergencesUltimate Oscillator is primarily used for Reducing False Divergences.
Relative Vigor Index (RVI)
Evaluation Comparison
Pros 👍
Advantages of using the trading indicatorElder-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
Ultimate Oscillator- Combines Short Medium And Long-Term IndicatorsIndicators analyzing short, medium, and long-term market trends simultaneously Click to see all.
- Reduces WhipsawsMinimizes false signals in volatile markets, improving trade accuracy Click to see all.
Relative Vigor Index (RVI)- Compares Closing Prices To Trading Ranges
- Less Known And UniqueOffers alternative perspectives on market dynamics, potentially providing an edge Click to see all.
Cons 👎
Disadvantages or limitations of the trading indicatorElder-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
Ultimate Oscillator- Complex CalculationIndicators with straightforward calculations and easy-to-understand outputs for efficient analysis Click to see all.
- Requires Context For Interpretation
Relative Vigor Index (RVI)
Performance Metrics Comparison
Reliability Score 💯
A score indicating the overall reliability of the trading indicatorElder-Ray IndexUltimate OscillatorRelative Vigor Index (RVI)Ease of Use Score 💻
A score representing how user-friendly and intuitive the trading indicator isElder-Ray IndexUltimate OscillatorRelative Vigor Index (RVI)Versatility Score 🔀
A score indicating the adaptability of the trading indicator across different markets and timeframesElder-Ray IndexUltimate OscillatorRelative Vigor Index (RVI)Customization Score 🔧
A score representing the degree of customization available for the trading indicatorElder-Ray Index- 7.5The customization score for Elder-Ray Index is 7.5 out of 10.
Ultimate Oscillator- 7The customization score for Ultimate Oscillator is 7 out of 10.
Relative Vigor Index (RVI)- 7The customization score for Relative Vigor Index (RVI) is 7 out of 10.
Score ⭐
The overall score of the trading indicator based on various performance metricsElder-Ray IndexUltimate OscillatorRelative Vigor Index (RVI)
Alternatives to Elder-Ray Index
Triple Exponential Average (TRIX)
Known for Filtering Out Market Noise💯 is more reliable than Ultimate Oscillator
Chande Momentum Oscillator (CMO)
Known for Momentum Measurement💯 is more reliable than Ultimate Oscillator
💻 is easier to use than Ultimate Oscillator
Percentage Price Oscillator (PPO)
Known for Relative Strength Measurement💻 is easier to use than Ultimate Oscillator
🔧 is more customizable than Ultimate Oscillator
⭐ is rated higher overall than Ultimate Oscillator
Choppiness Index
Known for Identifying Trending Vs Choppy Markets💯 is more reliable than Ultimate Oscillator
⭐ is rated higher overall than Ultimate Oscillator
Commodity Channel Index (CCI)
Known for Identifying Cyclical Trends💻 is easier to use than Ultimate Oscillator
⭐ is rated higher overall than Ultimate Oscillator
Know Sure Thing (KST)
Known for Trend Strength Measurement💯 is more reliable than Ultimate Oscillator
🔧 is more customizable than Ultimate Oscillator
Money Flow Index (MFI)
Known for Volume And Price Movements💯 is more reliable than Ultimate Oscillator
💻 is easier to use than Ultimate Oscillator
⭐ is rated higher overall than Ultimate Oscillator
Moving Average Convergence Divergence (MACD)
Known for Trend Strength And Direction💯 is more reliable than Ultimate Oscillator
💻 is easier to use than Ultimate Oscillator
⭐ is rated higher overall than Ultimate Oscillator
Awesome Oscillator (AO)
Known for Simplicity And Effectiveness💯 is more reliable than Ultimate Oscillator
💻 is easier to use than Ultimate Oscillator
⭐ is rated higher overall than Ultimate Oscillator
Fast Stochastic
Known for Rapid Momentum Shifts💯 is more reliable than Ultimate Oscillator