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
Introduction
by PRASHANT SHAH -
Renko is a charting method that belongs to the “noiseless” category, i.e. a chart which is free of relatively minor price moves. Apart from Renko, other noiseless charting methods include Point and Figure, Line-break and Kagi. Renko charts have their origins in Japan where they were used during the 19th century. They were introduced to ... Read more
Renko analysis with Conventional tools
by PRASHANT SHAH -
Let’s begin our discussion on Renko chart analysis with conventional methods and patterns. In this section, almost all Renko charts have been plotted with a 1% brick value on daily charts and so they typically capture the medium term price action. However, the concepts discussed are applicable on all brick values and time frames, unless ... Read more
Construction
by PRASHANT SHAH -
Let us begin by understanding how Renko charts are constructed. This is a most important and fundamental aspect. Readers are often more interested in immediately getting to the trade setups; they don’t focus enough on the basics and struggle later in grasping the means of trading strategies. I urge you to spend enough time understanding ... Read more
