Bibliography
by PRASHANT SHAH -
— Aby, Carroll D. J. Point & Figure Charting: The Complete Guide. Grinville, SC: Traders Press Inc., 1996. — Bollinger, John. Bollinger on Bollinger Bands, New York, NY: McGraw-Hill, 2002. — Bulkowski, Thomas N. Encyclopedia of Chart Patterns. New York, NY: John Wiley & Sos, Inc., 2000. — Carney, Scott M. Harmonic Trading, Volume One: ... Read more
Swing Breakout Patterns
by PRASHANT SHAH -
In the previous chapter we discussed how all the conventional chart patterns are workable and relevant on Renko charts as well. In this chapter, we will discuss patterns that are unique to Renko charts. The formation of bricks is a unique feature of Renko charts which no other chart category possesses. The different combinations of ... Read more
Multi-brick breakout patterns
by PRASHANT SHAH -
Let us now consider multi-brick breakout patterns. We discussed double top and triple top resistance and double bottom and triple bottom support patterns in the earlier chapter. Multiple bricks at the same level represent an area or zone of either support or resistance. When the price breaks out from those important levels, it triggers a ... Read more
MACD
by PRASHANT SHAH -
MACD is a popular indicator which was created by Gerald Appel in the late 1970s. It is a momentum indicator that calculates the difference between two moving averages. The MACD line is calculated by subtracting the longer term average from the shorter term average. An average line of MACD line is, in turn, known as ... Read more
Multiple Time Frame Analysis
by PRASHANT SHAH -
As we have discussed earlier, Renko is both a best representation of a line chart and an effective, noiseless method of studying price action. We can analyse a Renko chart on multiple time frames as well to get an idea of the trend and price setups across different periods. For example, if I am a ... Read more
5 ka Punch
by PRASHANT SHAH -
Bullish-Bearish 5 A series of five consecutive bricks can be treated as an anchor brick for intraday trading with 0.25% brick value on one-minute time interval charts. Bullish-bearish 5 on a 1-minute time interval 0.25% brick value Renko chart of BEL futures. A series of five bricks at Point A sets the bullish tone, which ... Read more
