Sentiment Indicators: Renko, Price Break, Kagi, Point and Figure – What They Are and How to Use Them to Trade
In Sentiment Indicators, noted trading expert Abe Cofnas draws on his own trading and training experience as he shares his knowledge about the latest techniques and strategies for using Renko, price break, Kagi, and point and figure tools to successfully analyze all markets.
Introduction:
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.
Ultimately, improving trading performance requires trading audits. Therefore, Sentiment Indicators also adds a unique application to the use of price break charts, Kagi charts, point and figure charts, and Renko charts: their use in performance analytics. We show how traders can conduct and improve their own audits of their performance.
They can gain unprecedented capability to detect trading weaknesses by comparing the path of their trades with what these charts showed about price action during that trading period.
Contents:
- The Geometry of Emotions and Price Action
- Price Break Charts: Key Concepts
- General Trading Strategies for Applying Price Break Charts
- Applying Price Break Charts to Markets and Data
- Channel Patterns, Cycles, and Price Breaks
- Multiple Market Applications of Price Break Charts
- Price Break Charts and Option Trading
- Renko Charts Revived: The Microdetection of Sentiment
- Kagi Charts: Waiting for the Turn of Sentiment
- Point and Figure Charts
- Integrating Price Break, Kagi, Renko, and Point and Figure Charting
- New Directions in Sentiment Analysis: Charting Words
- Beyond the Trend: Cycle Indicators Independent of Time
