Another version of this post appeared on wijmo.com a few months ago, when we released Wijmo FinancialChart. FinancialChart for MVC releases next week, and it's every bit as powerful as Wijmo's. FinancialChart for MVC is an all-in-one control designed to provide every major financial chart available in a single customizable collection, a benefit unavailable in other controls on the market (with the exception of our Wijmo FinancialChart). While it's as lightweight as any ComponentOne Studio control, it's also virtually an application in itself. You're going to love its flexibility and power. In the meantime, we thought you'd like a primer on the charts available in FinancialChart. Between the names and the definitions, it's not easy to wade through and find the right visualization tool for the right circumstance. This post kicks off a series of the best resources available for all our financial charts.
Chart #1: Heikin-Ashi
Similar to candlestick charts, Heikin-Ashi uses a different calculation: each candle works with some information presented by the previous candle. As such, they tend to be easier to read, and represent fewer false signals than a candlestick chart. For more information, check out this excellent blog post that goes into great detail on Heikin-Ashi charts: What is Heikin-Ashi and How to Trade With It ComponentOne Studio FinancialChart for MVC Heikin Ashi Chart
Chart #2: Renko Charts
Renko charts ignore time and focus solely on price changes that meet a minimum requirement. "Bricks" represent a fixed price move, and are either hollow or solid, depending on the price movement. While time is an element in the chart, it's not the defining element; the date axis will be irregular, depending on whether price changes are great enough to register on the chart. Here's a good explanation of Renko Charts. StockCharts.com is a great resource for demystifying financial charts. ComponentOne Studio FinancialChart for MVC Renko Chart FinancialChart will be available with the ship of 2015 v3, due out the week of November 11. If you're already an account member, you'll see the announcement soon. If not, create an account today to keep apprised of our 2015 releases! See more FinancialChart news >> See more 2015 v3 news >>