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01| Introduction To Renko Trading Strategy

01| Introduction To Renko Trading Strategy

May 04, 2022

02 | Disclaimer

02 | Disclaimer

May 04, 2022

04 | Chapter 1.2: Renko Trading Strategy

04 | Chapter 1.2: Renko Trading Strategy

May 04, 2022

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04 | Chapter 1.2: Renko Trading Strategy

Brick Value As mentioned earlier, Renko charts are categorized as noiseless and what makes them so is the appropriate selection of the brick value. In the example in Figure 1.7, the brick value used was 5 points, which is the difference between each brick. The brick value selected defines the price action which the user considers is significant enough to be captured in the chart. In Figure 1.7, for example, a brick will be plotted only when the price has moved by at least 5 points, or multiples thereof. So if price moves from 100 to 105, a bullish brick is formed. A brick will not be formed if the price is even one tick below 105. Accordingly, if the price is at 104, the Renko chart will not plot anything. Thus, the defined brick value also determines the frequency of bricks and the noise that we want to eliminate. Renko charts can be drawn by using different brick values but the principle remains the same. Later, we will discuss how best to decide what the appropriate brick...

03 | Chapter 1.1: Renko Trading Strategy

Technical Analysis of Renko Charts Introduction to Renko Charts Technical analysis can broadly be defined as the study of historical price action of a financial instrument, commodity, currency, etc. that helps in arriving at a reasonable conclusion about its prevailing demand and supply equation. The following are the basic tenets of technical analysis according to the classic work, Technical Analysis of Stock Trends by Robert D. Edwards and John Magee:* 1. Stock** prices move in trends, and a trend is deemed to continue until it gets reversed. 2. Stock prices are determined by the interaction of demand and supply, and the shifts in demand and supply cause reversals in trends. 3. The price discounts everything. Shifts in demand and supply can be detected in charts. 4. Price history and chart patterns tend to repeat themselves. Popular Charting Methods There are many ways to capture, or chart, the historical price movement of a financial instrument. The popular charting meth...

02 | Disclaimer

The author and the publisher disclaim all legal or other responsibilities for any losses which investors may suffer by investing or trading using the methods described in this book. Readers are advised to seek professional guidance before making any specific investments.

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Popular Posts

01| Introduction To Renko Trading Strategy

01| Introduction To Renko Trading Strategy

May 04, 2022

02 | Disclaimer

02 | Disclaimer

May 04, 2022

04 | Chapter 1.2: Renko Trading Strategy

04 | Chapter 1.2: Renko Trading Strategy

May 04, 2022

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