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
Swing Engulfing
by PRASHANT SHAH -
I have borrowed this concept of engulfing from candlestick chart patterns. A bullish engulfing candle is one where the current price completely engulfs the body of the previous candle. With Renko charts, we plot a series of bricks which show price swings. When a swing move completely retraces the previous move, which was a swing ... Read more
Weak Breakout Patterns
by PRASHANT SHAH -
Bullish weak breakout (left) and bearish weak breakout (right). When the price forms a bearish swing breakout (A), but fails to record more than two bearish bricks thereafter (B), and instead again turns back above the swing breakout brick (C) , it is a bullish weak breakout pattern. Correspondingly, after a swing breakout (A), if ... Read more
Renko ABCD
by PRASHANT SHAH -
Harmonic patterns are popular reversal patterns. One can refer to the book written by Scot M. Carney for a more detailed study of harmonic patterns. ABCD is a popular harmonic pattern for trading reversals. I have incorporated it into Renko, considering the advantage of objectivity offered by Renko bricks. ABCD is a three leg pattern, ... Read more
