Day Trading & Forex Forum

karl6666

Im just experimenting at the moment with Prorealtime.

Im trying to set up

kaji
renko
3 line breaks

kaji - its asking me for reversal amount, % or point, apply to h+l+c/2 (from a list)
renko - its asking me for box size, % or point, apply to h+l+c/2 (from a list)

WTF

anybody help

Looking at 1/3/60 min TFs

K

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Lorenzo di Zenzo

Kaji & Renko charts are variants on Point & Figure charts. They remove 'noise' from charts giving a clearer view of support and resistance points.

They will plot on one direction until the reverse criteria are met. You can set these are a % of the price, or to a specified number of points. EG if a closing price was 200, the chart would reverse at 189 if you specified a 5% reversal amount, or at 194 if specified 5 points.

It would seem you can select whether the chart is on closing price or some sort of weighted average (h+l+c/2). Try the different settings to see what difference it makes.

My charting package allows kagi & renko to be plotted on a time axis, which makes pullbacks easier to identify.

karl6666

good effort zen thanks

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Anne Onymous

Can you elaborate on the last part? Renko/Kagi plotted on a time axis? What can it look like? Thanks.

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Lorenzo di Zenzo

OK -- here's some screen captures:-

AAPL OCHL - standard daily chart (over 26 weeks) for AAPL with Moving Average
AAPL Renko - Renko chart with 2.5% reverse
AAPL Renko Timeline -- the same chart spread over 26 weeks with MA

Personally I prefer to see it on a timeline, but they work just at well either way. If it's on a timeline, then you can plot things like MA and other time dependent indicators. Then you could choose to buy when it drops below the MA during an uptrend or sell vice-versa.

Best

L

Attached Thumbnails

     

Anne Onymous

Yeah gotcha,
Actually with the timeline it also seems more practical for price pattern recognition. So it could be a good compromise, I never thought about it coz my charting package doesnt do it. Thanks for the suggestion!

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jalaga

I am working with Kagi in Prorealtime since time ago and I have detected a mistake which could make their kagi charts useless because it affects indices and any kind of stocks:
1. The kagi line is ascending (yang) for days and, when one day it changes to descending (ying), the previous days which were marked as ascending days (yang) before this change are marked now as dsecending (ying).
2. It occurs always when the change of price was strong. If price change less strong the mistake does not occur.

For example:
1. CAC 40: It is in ascending line (yang) up to june-15 included. On june-16, price go down and kagi line change to descending (ying). Then, kagi chart indicates that the previous days up to june-3 (marked before as ascending days) are now descending days. To sum up, the day of change is not june-16 but june-3.

2. Arcelor (MT.AS): In ascending line (yang) up to june-16. On june-17, price goes down and the kagi line change to descending (ying). Now the complete kagi chart change and shows that the kagi line is descending since june-12 (not since june-17). To sum up, the first day of change is june-12, not june-17.

In my system, it is very important to detect the first day of change. As you can understand, if you are waiting for the first day of change for buying/selling and, when it occurs, kagi graph change completelly and tell you that the first day of change was not this day but days ago, the whole system is useless.

I have wrote to Prorealtime support and I am waiting for their comments. If any of you know where is the problem, please, let me know it.

Thanks,
Javier

karl6666

Hey mate

do you know of any Prorealtime forums / chat / advise sites, it seems that there is nobody to talk to except the official site

K

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