What are the differences between the DWT and the MODWT? What are the differences between the DWT (Discrete Wavelet Transform), which is the most classical algorithm and the Maximum Overlap Discrete Wavelet Trasnform (MODWT)?

Both these algorithm are available in MATLAB. As far as I know MODTW is more suite for multi-resolution analysis, whereas DWT is more useful for signal de-noising and compression.

Thanks for your clarification.
from "wavelet methods for time series analysis"