Support Board
Date/Time: Thu, 02 Jan 2025 12:38:23 +0000
[User Discussion] - 3 line break.
View Count: 3542
| [2013-06-04 02:19:27] |
| Rino - Posts: 124 |
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Thanks in advance. Would you please tell me what charts support 3 line break study? I thought I read it could be used on any. This is a 5 tick Range bar. As can be seen, they are not 5 tick ranges. http://www.sierrachart.com/image.php?l=1370312340766.png |
1.jpg| [2013-06-04 05:59:01] |
| M5amhan - Posts: 468 |
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if you want 5 tick ranges then you should just use the range bar without 3 line break.. this is the way 3 line break charts work http://stockcharts.com/help/doku.php?id=chart_school:chart_analysis:three_line_break read the first two paragraphs |
| [2013-06-04 14:48:48] |
| vegasfoster - Posts: 444 |
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I could be wrong but I think you want to use the renko chart as your underlying chart instead of the range chart.
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| [2013-06-04 15:15:34] |
| M5amhan - Posts: 468 |
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3 line break is irrespective of high and lows.. it is similar to a point and figure chart, that is why i posted that link
Date Time Of Last Edit: 2013-06-04 15:15:45
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| [2013-06-04 15:20:56] |
| M5amhan - Posts: 468 |
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Invented in Japan, Three Line Break charts ignore time and only change when prices move a certain amount. In this regard, these charts are quite similar to Point & Figure charts. Three Line Break charts show a series of vertical white and black lines. White lines represent rising prices, while black lines portray falling prices. Prices continue in the same direction until a reversal is warranted. A reversal occurs when the closing price exceeds the high or low of the prior two lines.
this is why the renko chart will look more like a 5 tick range, but it is not always 5 tick ranges |
| [2013-06-04 18:34:05] |
| Rino - Posts: 124 |
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Thank you for taking the time to answer my query. Much appreciated..... |
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