Forex encyclopedia

Random article: Point and figure chart
When price reverses and passes a certain threshold value (amount is indicated in reversal parameters), then it is time to stop forming table of one type and switch to forming another. It can start from entering several crosses or noughts at once (if reversal exceeds 2) Rendering the price in the form of this type of forex chart is not tied to time scale. Therefore, adjustment of many approaches to classical technical analysis is required. Crosses and noughts are convenient to render levels around which the price stops for a ling time (consolidation level).
Popular article: Renko Trading System
This type of chart is applied in technical analysis, which renders movement of the price in the form of diagonal rows consisting from rectangles (bricks). Each new rectangle is always built to the right from the previous one and its location is higher or below the previous Renko rectangle. Mentioned upward or downward movement of price (for example, each 10 points) is marked by adding rectangle below (above) and to the right from the previous one. Upward movement is indicated by a transparent brick whereas downward movement (below previous value) – by a colored brick.
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