Charts Equivolume chart‐ Equivolume displays prices in a manner that emphasizes the
relationship between price and volume. It measures the relationship between price and volume. Price is measured on the vertical axis and volume is measured on the horizontal axis.
Volume plays an important role in confirming price movements. It is sometimes difficult to track this relationship on a normal bar chart with volume plotted in a separate slot below. This is overcome by plotting price and volume activity on a single chart.
Point and figure chart‐ Point & Figure charts consist of columns of X's and O's that
represent filtered price movements over time. The charts ignore the time factor and concentrate solely on movements in price ‐ a column of X's or O's may take several periods to complete. It is a study of pure price movement in that, time is not taken into consideration while plotting the price action. Since only price changes are recorded, if no price change occurs then the chart is left untouched.
By convention, the first X in a column is plotted one box above the last O in the previous column (and the first O in a column is plotted one box below the highest X).
Each X indicates that price has increased (and each O indicates that price has decreased) by one box. The sensitivity of the chart can be varied by altering the box size. The box size is the minimum price movement recorded and serves to eliminate minor price fluctuations. Larger box sizes are used for charting longer time periods. Increases are represented by a rising stack of Xs, and decreases are represented by a declining stack of Os
Renko chart‐ The Renko charting method has acquired its name from "renga" which
is the Japanese word for bricks. In Renko charts a line (or "brick") 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.
Renko chart isolates the underlying price trend by filtering out the minor price changes.
Copyright © Riflexo Jsc. 2011
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