Bats are five point chart patterns that can point towards either a bullish or bearish breakout.
They are quite similar in appearance to the butterfly...
A counter attack line happens when there’s a price gap between the close and open of two sessions. The “counter attack” fully reverses the gap taking the price back to the close of the previous session.
When working with a trading platform, we usually become accustomed to looking at charts in just one particular timeframe. Perhaps it’s the one that’s proven most profitable in the past.
In renko charts, price movements are reduced to a few simple patterns and that makes them effective at locating trends, reversals, supports and resistances.