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Renko - Technical Analysis from A to Z
Renko charts are similar to
Three Line Break charts except that in a Renko chart, a line
(or "brick" as they're called) is drawn in the direction of the prior move only if prices
move by a minimum amount (i.e., the box size).
The bricks are always equal in size. For example, in a 5-unit Renko chart, a 20-point rally is displayed as four,
5-unit tall Renko bricks.
Basic trend reversals are signaled with the emergence of a new white or black brick.
A new white brick indicates the beginning of a new up-trend. A new black brick indicates the beginning of a new down-trend.
Point n Figure (PnF Charts) - Technical Analysis from A to Z
Point & Figure ("P&F") charts differ from traditional
price charts in that they completely disregard the passage of time and only display
changes in prices. Rather than having price on the y-axis and time on the x-axis, P&F
charts display price changes on both axes. This is similar to
Kagi,
Renko, and
Three Line Break charts.
There are several chart patterns that regularly appear in P&F charts.
These include Double Tops and Bottoms, Bullish and Bearish Signal formations, Bullish and Bearish Symmetrical
Triangles, Triple Tops and Bottoms, etc.
Renko - Technical Analysis from A to Z
