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Strategies & Market Trends : Candlestick Charting--The unknown indicator -- Ignore unavailable to you. Want to Upgrade?

To: ftth who wrote (692)	11/21/1997 8:32:00 PM
From: MonsieurGonzo	Respond to of 1589

Dave; RE:" Kagi, Renko and 3-Line Break Japanese Charts..." Dave - I haven't got a clue where to start those chart filters. (I'm working on the xfer process via EMAIL). Given a choice of indices, I would choose the S&P-100 (OEX.X) rather than S&P-500 (SPX.X), as the OEX is the main trading index (though they move in perfect harmony). The Kagi* appears to be the most advanced style - and has very subtle readings associated with it. Perhaps better to leave that one for later. The Renko is a variation of the 3-Line Break Chart. So, let's start off with a 3-Line Break Chart, and go from there. Nison says 3 lines is the place to start so, why not? The thing I like (I think) about the 3-Line Break Chart, et al, is that they might help us with two, important things: (1) Continuation Patterns - they filter out the "noise" (2) Identifying the Trend of Sentiment - so that we can avoid taking poritions against the trend. They also confirm reversals on the candlesticks, from what I can see; dunno yet... -Steve PS - Oh, I guess we should identify the References : (1) Japanese Candlestick Charting Techniques (2) Beyond Candlesticks written by Steve Nison