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In my opinion J Welles Wilder defined the market movement with his true range concept crystal clear better than Elliot. This Elliot wave concept is something like astrology, sometimes we win and many times we loose. Because elliot wave depends on zig for the turning points which is not reliable at all. But Wilder's method is pure mathematics and no astrology. We can clearly mark out the closing price when a stock is trending or in sideways to erase our capital. Here is my chart of my watchlist for Dec-20 which show crystal clear trend or non-trend based on Wilder's True range concept. The values are if a stock breaking above 14day ATR positive
and if a stock is breaking below 14day ATR then negative. If a stock is trading within 14day ATR then I assign zero value because they are somewhere in NR4 or NR7 or in Insideday. View attachment 39446

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