Advanced intraday chart types
Leverage your analysis with the intraday capabilities of Renko, Kagi, Line Break, and Point & Figure charts.
Intraday timeframes are suited to short-term traders, and those looking for precise entry and exit points.
CONTENTS:
What are intraday charts
In trading, the term "intraday" refers to price movements that occur within a single trading day. TradingView Supercharts offer you a wide range of default intraday intervals to explore:
- Seconds: 1, 5, 10, 15, 30, 45
- Minutes: 1, 3, 5, 15, 30, 45
- Hours: 1, 2, 3, 4
These four chart types are price-based — when you choose one of these intraday intervals, the values are used to calculate price changes for the chart types and adjust accordingly, but they are still not time-based.
Renko charts
In Japanese, renga means brick.
These charts display price movements in consecutive rectangles. Each rectangle is constructed based on the predetermined value. For example, after the price moves by a particular value, a new brick appears on the charts — it’s the complete opposite to candles charts, where new candles appear after a set period of time.
Kagi charts
This is another price-based chart, which takes into account only the price. Slightly different from Renko charts, Kagi charts don't draw new lines — they continue drawing the existing one until the price direction changes.
Here, vertical lines represent price movement, and horizontal lines indicate a directional change. The color of the lines depends on the relationship between the new line's close price and the previous line's close price.
Line Break charts
This chart type draws new figures when the price reaches higher highs in an uptrend and lower lows in a downtrend.
Reversals on this chart type are only displayed after a strong enough move.
Point & Figure charts
Once a trend in the early 1900s, Point and Figure charts are gaining popularity again. They consist of "X" and "O" figures, which appear when the price moves by a predetermined amount.
Oh, and one more thing…
Even though these chart types use similar inputs and pursue the same goal of reducing time as a source for calculations.
Here's something to keep in mind: these four chart types can be used with any timeframe — not only just intraday — so adjust them to find what works for you.
Moreover, for intraday trading you can create custom intervals to find the one that best fits your strategy.
To achieve your goals in trading, learn about other chart types — all designed to fit your unique strategy.
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