Beyond candlesticks, a popular book by Steve Nison is a good starting point.The most popular types of charts are the candlesticks, bar charts, and the line charts.The candlesticks are usually preferred by most traders because of the significant information that they offer.
Bar charts are not popular while line charts are mostly used to show the direction of a trend. In addition to these three, other types of charts are, among others: Kagi Heikin Ashi Area Point and Figure Range Renko In this report, we will look at the kagi charts and how you can use them to spot trading opportunities. Page Contents What is a Kagi Chart The Tickness Reading the Kagi lines How to use: kagi chart strategies Shoulders and waists in Kagi Trend Following Technical Indicators Final thoughts What is a Kagi Chart. To read them, traders look at the specific thickness of the lines. If the price continues to move in the direction of the previous kagi line, it extends the line. This is unlike a candlestick, which changes depending on the period used. In trading, the thick line is known as the yang line while the thin one is known as the yin. Book Tradingf Kagi Download It FromInstead, if you use MT4 or MT5, you can download it from the marketplace manually. You can find it in TradingView, which is a popular charting platform. Book Tradingf Kagi How To Apply ThemInstead, you just need to know how to apply them in your charts. The most common approach is to buy when the kagi line moves from thin to thick (yang). A shoulder is the previous high while the waist is the former low. Book Tradingf Kagi Series Of ConsecutiveIn general, when the kagi forms a series of consecutive shoulders and waits, it sends a signal of the strength of the underlying trend. The chart below shows the shoulders and waists pattern in action. In this, you basically look at the direction the kagi is trading in and follow the trend. If it is showing consecutive greens, it is a sign that bulls are in control and that you can buy. Like in candlesticks, you can also use channels to trade the kagi as shown below. A popular approach is to use the 15-day moving average to validate a trend. As shown below, the kagi remains above the moving average so long as the price is ascending. But, it is also one of the easiest to use when you understand it well.
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