Bollinger Bands, Candlestick Patterns, Renko Charts Swing Trading Strategy

Swing trade stocks with Bollinger Bands and candlestick patterns across monthly, weekly, and daily timeframes. Optionally use Renko charts for early entries.

Published · Updated · Methodology: Technical Indicators

Part of: Bollinger Bands Strategies

  • Methodology: Technical Indicators
  • Content type: strategy
  • Timeframes: Monthly, Weekly, Daily, Hourly (for F&O stocks)
  • Markets: Equity stocks (buying side), F&O stocks

Indicators used

  • Bollinger Bands
  • Candlestick Charts
  • Renko Charts

Source video

Decoded from: The Swing Trading Strategy I Wish I Knew Earlier (FREE Scanner) | Chirag Rathod by Mukta Dhamankar — watch the original

Key timestamps:

  • 0:00 - Preview
  • 4:00 - The swing trading setup that finds high-probability entries
  • 10:00 - Entry, exit & stop-loss rules that protect your capital
  • 16:30 - How to use this strategy on F&O stocks for better opportunities
  • 22:00 - Can Renko charts help you enter trades earlier?
  • 30:00 - Applying this strategy on Renko charts
  • 40:00 - Free scanner to find high-potential swing trading stocks

Strategy overview

Bollinger Bands draw a volatility envelope around a moving average, widening and narrowing as price activity expands and contracts. What separates this entry from the usual band setup is that the indicator is not the only variable being changed — the chart itself is. The same swing-trading idea is examined on ordinary candlesticks and then re-plotted on Renko, a chart type that discards time altogether and advances only when price travels a fixed distance.

That substitution is more consequential than it sounds. Bollinger Bands are computed from a series of closes, so if the series is made of bricks rather than time-stamped bars, the average at the centre of the bands is averaging something different, and the resulting signal is not the same object under a new skin. The source video treats this as an open question rather than a settled rule — its Renko chapter is literally posed as "can Renko charts help you enter trades earlier?" — which is the honest framing, since a brick-based chart trades away noise and clock alignment in exchange for a signal whose timing depends entirely on the brick size chosen. Two traders using different box sizes on the same instrument are not running the same strategy.

The context is the Indian market: the video is a guest appearance by Chirag Rathod on Mukta Dhamankar's channel, aimed at swing horizons that run from monthly and weekly charts down to shorter frames for F&O names, with a free scanner offered as the screening layer that narrows the universe before any chart is opened. No rule set has been extracted for this entry, so this page describes the concept and what the source covers rather than a reconstructed system — worth keeping in mind, because a candlestick-plus-Renko approach is defined as much by its chart configuration as by its entry logic.

Topics

bollinger bands strategy · swing trading · candlestick patterns · renko charts · technical indicators · stocks trading strategy · daily timeframe strategy · tradingview strategy · pine script · equity stocks

Frequently asked questions

What is a Renko chart and how is it different from a candlestick chart?

A candlestick chart plots one bar per unit of time, so bars appear whether or not price moves. A Renko chart plots a brick only when price travels a fixed distance, so time is removed from the horizontal axis entirely and quiet periods produce no new bricks at all.

Can you use Bollinger Bands on a Renko chart?

Technically yes — most platforms will plot them — but the bands are calculated from the brick closes rather than time-based closes, so the moving average at their centre summarises price distance travelled instead of price over time. A band reading on Renko is not directly comparable to the same reading on candlesticks.

What timeframes does this swing trading strategy use?

The source video works across monthly, weekly and daily charts for the swing view, and drops to an hourly chart when applying the approach to F&O stocks, which is the Indian futures and options segment discussed in the video.

How should I evaluate a strategy that mixes chart types like this?

Test each chart configuration separately rather than assuming results transfer, since brick size on a Renko chart changes both signal frequency and timing. Strategy Decoder extracts the structure of strategies from video sources so you can assess and backtest them on TradingView before committing capital.

About this strategy page

This trading strategy was decoded by Strategy Decoder's AI from a public YouTube trading video and turned into a structured, reviewable specification. In the interactive app this page shows the full entry and exit logic, risk management settings, the indicators involved with their parameters, AlgoWizard-compatible logic and a Pine Script export ready for TradingView backtesting — plus an automated backtest verdict when one has been computed for this strategy.

Strategy Decoder catalogs 2,229 decoded strategies. Each one is extracted with confidence scoring, cross-linked to the indicators it uses, and kept up to date as new videos are processed daily. Load this page with JavaScript enabled to use the interactive tools, or start from the strategy explorer to filter by methodology, market and timeframe.

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