DEFINITION of 'Unique Indicator'
A technical indicator that can be developed using only core elements of chart analysis, such as patterns and mathematical functions. Unique indicators are one of the two main types of technical indicators, the other being hybrid indicators.
BREAKING DOWN 'Unique Indicator'
Examples of unique indicators based on chart patterns include basic ones, such as triangles and head-and-shoulders, to more complex patterns such as Elliott Waves. Unique indicators based on mathematical functions include moving averages, Bollinger Bands® and various oscillators.