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
Donchian Channel
by PRASHANT SHAH -
Donchian channel is an indicator created by Richard Donchian that plots upper and lower bands of price based on the highest high and the lowest low of the last “n” periods. It can be plotted on Renko charts as well. If we plot a 40-period Donchian channel on a Renko chart, there will be three ... Read more
Pattern Based Trading
by PRASHANT SHAH -
Renko patterns that we have discussed can help us in analyzing various markets and instruments. A trading approach can also be developed using these patterns. This is known as pattern based trading. Thus, you can take a trade based on a bullish pattern and exit when a bearish formation is formed, or take a short ... Read more
Fundamental analysis
by PRASHANT SHAH -
I am a firm believer in fundamental analysis. One should study valuations and invest only in companies which have a strong management and a distinctive competitive advantage. But it is very difficult for Individuals to keep track of macro- and micro-environments on a frequent basis. Price setups are often a lead indicator and help identify ... Read more
