In this guide, you’ll learn about all the different tools that are available to you on the chart. Specifically, we’ll be looking at the toolbars that are located at the top, bottom, left and right of the chart: To summarize the chart above, the breakdown looks like this: Top toolbar: Chart tools Left-side toolbar: Drawing tools Right-side toolbar:...
The Renko chart is a potent tool that has grown in favor among technical analysts. Renko charts, which are derived from the Japanese word "renga," which means brick, offer a distinctive viewpoint on price action by ignoring the concept of time and concentrating only on price changes. This publication will explore the idea of Renko charts, explain how they're made,...
Why look at weekly charts? We look at weekly charts because it reduces volatility when scanning for stocks. This is especially important during bear markets when the stocks are more volatile. What do we want to see? Base depth no more than 30% Close on the weekly bars near the highs Closes are tight (about 1-1.5% of each other) Peak closes on...
As one of the most popular types of business charts, a bar chart provides a lot of information to technical analysts. As a result, it enables traders and investors to come up with thoughtful trading strategies, designed to take advantage of the market, allowing traders and investors to profit from different values. To better understand a bar chart, you must learn...
There are public rules for graphing price movements on the charts of various market assets. There are two main types of designation: Candles They were invented by the Japanese rice merchant Homma Munehisa, which is why they got the name - Japanese candles. The candlestick gives information about deals within the selected period: - Opening - the initial...