iCharts Discussions

opportunist · White Belt Joined: 27 Apr 2010 Posts: 356

Dear all,

Came across these wonderful Japanese techniques which makes life so simple. Refer to the attached candle stick chart first and then its renko counterpart. Imagine the candle stick chart to be that of Nifty and then look at the next chart. I can bet a crore that taking trend based positions would be much simpler on the latter.

The Japs have really been hiding great trading secrets ! First it was candlesticks and now tumbling out of their closets are these gems - Renko, Kagi, Ichimoku clouds.

But PT Bhai at least try to incorporate Renko in Icharts as it can make life simpler and PROFITABLE for so many of us here.

Regards,

Opportunist

ProTrader · Site Admin Joined: 06 Jul 2008 Posts: 433

Taking yourself less seriously,
is a wonderful way, to reduce
stress! If you don't proceed
with caution, you could end up,
in quite a mess. There's enough
pressure we have to face, on an
average day, we should learn to
handle it wisely, then send it,
merry on it's way! Just enjoy life's
simple pleasures, it's all around
for you and me. Forget about any
kind of stress and live your life,
abundantly!

There is a lot of hope in future. Will definitely try. Laughing

--PT

manoj_407 · White Belt Joined: 29 Sep 2007 Posts: 5

Dear PT ,

Kindly provide this renko chart addon in Eod.
Am raising this query since 2007

Thanks & regards
Manoj

Juan_Belmonte · White Belt Joined: 12 Apr 2010 Posts: 6

I am a attaching the weekly dow charts. As you move to bigger timeframes you get rid of volatility in lower timeframes and big picture on trend gets clearer.

opportunist · White Belt Joined: 27 Apr 2010 Posts: 356

vinst · Black Belt Joined: 09 Jan 2007 Posts: 3303

a bar chart has only one parameter, time.
renko charts have issues with reversal box size which keeps changing with value of security. Besides, the signal comes late which is not obvious when we just take a look at renko chart since there is no time element.

SwingTrader · Posted: Mon Jun 13, 2011 9:27 am Post subject:

My view on this.....we will probably provide ichimoku and other chart types in the future....but I feel that one can trade comfortably/successfully with any type of chart one is truly comfortable with (or "used to", if you will). The "edge" in trading will have to come from within the trader and not the type of charts or indicators he/she uses.

Well....the above is my sincere personal opinion.