The best indicator for Elevance Health (ELV)
We backtested 20 indicators across daily, weekly and hourly charts on real Elevance Health (ELV) history. Here's what actually worked — risk-adjusted, out-of-sample, with costs.
WaveTrend (8/6/4)
On the weekly chart, this is the strongest risk-adjusted edge we found for Elevance Health (ELV) over ~24.7 years — trailing buy-and-hold by 3.7% CAGR.
The winner on each chart
Every indicator, ranked
Ranked by Sharpe (risk-adjusted return). Hypothetical, fees included.
| # | Indicator | TF | CAGR | Sharpe | Max DD | Win | Trades | vs B&H |
|---|---|---|---|---|---|---|---|---|
| 1 | WaveTrend (8/6/4) ✓ | Weekly | 10.1% | 0.58 | -47.8% | 81.8% | 22 | -3.7% |
| 2 | Stochastic ✓ | Weekly | 7.3% | 0.54 | -32.5% | 86.4% | 22 | -6.5% |
| 3 | CCI ✓ | Weekly | 8.4% | 0.52 | -45.3% | 85.7% | 28 | -5.4% |
| 4 | ADX / DMI ✓ | Weekly | 6.9% | 0.51 | -27.0% | 55.6% | 27 | -6.9% |
| 5 | WaveTrend (8/6/4) ✓ | Daily | 9.1% | 0.5 | -63.9% | 72.9% | 96 | -5.0% |
| 6 | Williams %R ✓ | Weekly | 8.0% | 0.49 | -47.8% | 73.0% | 37 | -5.8% |
| 7 | Bollinger Mean-Reversion ✓ | Weekly | 6.1% | 0.46 | -38.4% | 76.2% | 21 | -7.7% |
| 8 | Heikin-Ashi Trend ✓ | Weekly | 7.2% | 0.45 | -41.4% | 58.6% | 232 | -6.6% |
| 9 | Holy Grail Confluence ✓ | Daily | 6.8% | 0.43 | -45.2% | 78.0% | 41 | -7.4% |
| 10 | Money Flow Index ✓ | Daily | 6.3% | 0.4 | -62.7% | 76.2% | 21 | -7.8% |
| 11 | RSI Mean-Reversion ✓ | Daily | 5.0% | 0.39 | -46.8% | 83.3% | 36 | -9.2% |
| 12 | EMA 50/200 Cross | Daily | 5.9% | 0.37 | -59.1% | 52.6% | 19 | -8.2% |
| 13 | SMA 50/200 Cross | Daily | 5.5% | 0.36 | -58.3% | 63.2% | 19 | -8.6% |
| 14 | Stochastic ✓ | Daily | 4.9% | 0.34 | -69.3% | 73.0% | 122 | -9.2% |
✓ = held up out-of-sample. Hypothetical, costs included. See methodology.
For Elevance Health (ELV), WaveTrend (8/6/4) on the weekly timeframe gave the best balance of return and risk in our test. It still trailed buy-and-hold on raw return — but remember: this is a hypothetical backtest of a standard rule, not a recommendation. Markets change. See the methodology and disclaimer.
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