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| Sentiment Indicators - Renko, Price Break, Kagi, Point and Figure |
The purpose of this book is to give beginning and more experienced
traders a fresh look at the principles and applications of alternative
charting types. These charts share one signifi cant attribute: they display
information independent of time. These types include price break; Kagi;
Renko; point and fi gure, and cycle charts. These charts are important
because when the trader applies them correctly, they provide different
views of the shape of market sentiment as well as the shape of trends.
The hoped-for result is that they will give the trader an enhanced ability
to detect changes in price action. The use of these charts can have a
signifi cant impact on trader fi tness levels, which most traders are looking
to improve. (There are very few traders that cannot improve their
performance.) There are even fewer that are consistent. A huge trader
training industry supplies a seemingly unending stream of content and
tutorials, in seminars and on the Web, with the goal of assisting traders.
The search for new tools and techniques is all-consuming, but the ability
to improve trading does not rest on a new technique. Rather, it centers
on the trader’s own behavior
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