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Date/Time: Thu, 18 Aug 2022 10:37:51 +0000



[User Discussion] - 3 line break.

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[2013-06-04 02:19:27]
Rino - Posts: 124
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

image1.jpg / V - Attached On 2013-06-04 02:17:07 UTC - Size: 101.12 KB - 605 views
[2013-06-04 05:59:01]
M5amhan - Posts: 468
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
I could be wrong but I think you want to use the renko chart as your underlying chart instead of the range chart.
[2013-06-04 15:15:34]
M5amhan - Posts: 468
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
[2013-06-04 15:20:56]
M5amhan - Posts: 468
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
Thank you for taking the time to answer my query.

Much appreciated.....

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