Why is TradePoint and RZone preferred for our analysis?
Our analysis is predominantly done on Log-brick charts, which are available on Definedge Securities' platforms - TradePoint and Rzone. When analysing the higher timeframe on noiseless charting methods such as Point & Figure and Renko, Log-brick charts allow for a more accurate analysis.
While TradingView has recently introduced noiseless charts, they currently offer LTP% charts and not Log-brick charts. This makes them less suitable for the higher timeframe analysis, as the accuracy and structural logic differ from the one used in our methodology.
For example, look at the charts below of Nifty 50 on 0.25% (Daily) on Point & Figure and Renko charts from TradingView, TradePoint, and RZone. LTP% is used on TradingView charts and Log-brick is used on TradePoint and RZone charts. Observe the inconsistency in the patterns formed on TradePoint and RZone v/s on TradingView.
Renko 0.25% (Daily):
RZone
TradePoint
TradingView
Point & Figure 0.25% (Daily)
RZone:
TradePoint
TradingView
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