Kagi chart
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The Kagi chart is used for tracking price movements and to make decisions on purchasing stock.
[edit] History
The Kagi chart was originally used in Japan for tracking the price movement of rice since 1870s. Due to its effectiveness to show a clear path of price movements, it's one of the various charts that investors use to make better decision on the stocks. The most important benefit of this chart is that it is independent of time and change of direction occurs only when a specific amount is reached.
Kagi Chart looks similar to swing charts and does not have time axis. It is created with a series of connecting vertical lines. The price determines the thickness and direction of the lines. 
[edit] How to Plot a Kagi Chart
- Find the starting point. The starting point is generally considered the first closing price. From this point forward, you compare each day's closing price with the starting price.
- If the price on that day is greater than or equal to the starting price, then it is indicated by a thick line (Drawn from starting price to new close). If the price on that day is less than or equal to the starting price, then it is indicated by a thin line (draw from the starting price to the new close price).
- The higher the bars go, the strong the trend is.
Buy signal: Whenever the vertical line changes from thin to thick.
