Brick Reversal
by PRASHANT SHAH -
Having read thus far, you are now in a better position to trade even simple brick reversals. Brick reversals offer trades with affordable stops. With growing proficiency in reading a chart, you will be able to identify which brick reversals are to be traded. A major Renko pattern follow through, established trend on multiple time ... 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
Shadows
by PRASHANT SHAH -
As discussed in Chapter 1, every Renko brick consists of two prices — and is built by connecting the two prices. This is an important feature of Renko charts. Diagonal plotting of bricks gives us an opportunity to plot shadows. The biggest problem associated with Renko charts is that we can’t see the intraday price ... Read more
