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
Brick Indicator
by PRASHANT SHAH -
Brick indicator is a brick zone indicator, plotted not in histogram style but instead with a moving average plotted along with it. Below is a chart of PEL with a 40-period brick indicator line and 40-period moving average line of the brick indicator. 40, 40-brick indicator on a 1% brick value daily Renko chart of ... Read more
Brick Count Indicator
by PRASHANT SHAH -
The brick is an important property of Renko charts. Isn’t it logical that if the number of bullish bricks over a look-back period is higher than the number of bearish bricks, it is then a bullish sign? Similarly, if bearish bricks over the look-back period are more in number than the bullish bricks, it is ... Read more
Learn from Abhimanyu
by PRASHANT SHAH -
Let’s now consider four charts of the same instrument. Take a pause after every chart and answer the question posed. 1% brick value daily Renko chart of Vakrangee The above chart shows a strong trend line breakout and the price is moving in a strong uptrend. But it has already moved quite a bit. Would ... Read more
