Sentiment Indicators: Renko, Price Break, Kagi, Point and Figure – What They Are and How to Use Them to Trade
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| Author(s) | |
|---|---|
| Pages |
287 |
| Format |
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| Published Date |
2010 |
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 significant attribute: they display information independent of time. These types include price break; Kagi; Renko; point and figure, 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
Sentiment Indicators: Renko, Price Break, Kagi, Point and Figure - What They Are and How to Use Them to Trade By Abe Cofnas pdf
6 reviews for Sentiment Indicators: Renko, Price Break, Kagi, Point and Figure – What They Are and How to Use Them to Trade
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Deborah Dixon (verified owner) –
Author does a great job in delivering how traders can profit from the proper use of Sentiment Indicators. This book is a must for all traders. I highly recommend it!
Camden Anthony (verified owner) –
Maybe you′re already using technical and fundamental analysis to guide your portfolios. But if you′re not also looking at sentiment indicators, then you′re missing out. Sentiment indicators provide you with improved skills in filtering the noise of the market. And Abe Cofnas′s book is a must–have manual for anyone working to grow their market knowledge and individual wealth.
Barrett Nixon (verified owner) –
The process of extracting alpha in today′s markets grows increasingly challenging as strategies become more automated, technology becomes more robust, and the market as a whole becomes more dynamic. Abe Cofnas′s ability to quantify market sentiment gives traders an effective means to compete in this new paradigm. Sentiment Indicators provides one–of–a–kind insight into the world of proprietary trading strategies and serves as a solid framework for those professionals looking to further enhance their current trading protocols, as well as those seeking viable inputs in the programming of black box and algorithmic trading models.
Kayson Sheppard (verified owner) –
I’m always looking for new points of view about trading. I’ve implemented point and figure charts a number of times and read nearly all of the books about them. I’ve also read Steve Nison’s Beyond Candlesticks: New Japanese Charting Techniques Revealed (Wiley Finance) . And now I’ve taken a first pass through Sentiment Indicators – Renko, Price Break, Kagi, Point and Figure: What They Are and How to Use Them to Trade (Bloomberg) .
This is definitely an advanced book – you need to be able to code up these methods and back-test them on real data to make sure they work. Perhaps the author would do that in a later edition. And it’s not easy to read. You’ll definitely need to sit down with it and a computer if you plan to incorporate these methods into your trading. It seems to be based on methods that work for the author. With that caveat, I think this book is worth owning, and I give it three stars.
Thatcher Chase (verified owner) –
Good read
Veda Quintero (verified owner) –
Recommended. I haven’t read Nison’s ‘Beyond Candlesticks’, so cannot comment on how much overlap there is with that work, but I found this a very good book. Probably not for novice traders.