For all price action traders out there, this is one of the charting packages you must own if you trade price action on Metatrader. When it comes to choices of charts in Mt4, most Mt4 forex traders are aware that they do not have much choices. In Metatrader 4, there is only one chart type to select from, that is OHLC or time interval charts ( 5 min, 15min 60 min ) . Finally, Renko, Kagi, Line Break and Point and Figure charts are made available to Mt4 Traders. All 4 Bundled in 1 package.
The Importance of Reading True Price Action
The problem is time based charts does not present price action in the most useful way for forex traders. While most forex traders wants to see market ‘true’ action, time based chart is often not the best chart to see it.
This is when most forex traders turn to using charts like price break or also called line break chart, renko, kagi and point and figure charts. These charts main strength over time based charts is that they present price that shows its true underlying price action. That means when traders find themselves getting into false breakouts or false signals, the most easiest way to reduce false signals is to use these price action charts.
Renko, Kagi , Line Break and Point and Figure Charts Present Better Trade Signals
Price action charts when set up properly, will present market data with less whip saws then time based charts. This will mean that having seen a technical chart pattern on a price action chart offer a higher probable chance of winning success than over on the normal time based charts.
If you are a technical chart trader or support/resistance trader, and you are looking for price action charts to trade on, Forex Chartistry provide all the necessary tools that you can rely upon to automate your trade entries to exits. Within Forex Chartistry, you will enjoy the capability to trade and analyze market with the four charts – Renko, Kagi, Line Break and Point and Figure.
As a chart trader, we understand that each of these price action charts are unique. Thus, they have a tendency to generate trading signals in a special way. The trade automator that comes included in the Forex Chartistry package will add more automation to the Chartistry trader. You can find yourself exiting with renko boxes, entries on line break signals, trade placement on trend change detected by 3 box reversal in point and figure charts.
Forex Chartistry Package
Forex Chartistry package includes 4 chart indicators .
Renko, Kagi, Price Break and Point and Figure chart traders will benefit from the simplicity and accuracy of Forex Chartistry. It is a powerful charting package powered with trade automation for chart traders.