Discussion of article "Indicator for Point and Figure Charting" - page 2

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pejman-m:

??????

?????? 

???????

??????? 

You have to write in English on this forum please.
 
angevoyageur:
You have to write in English on this forum please.

i know this,

but this question marks mean why doesn't dear "aktiniy" answer our questions ??!!! 

 
no one answer ?!
 
pejman-m:
no one answer ?!
This is a translated article. The author is Russian, you can try to contact him directly, but not sure he understand English.
 

thx,

 but Aktiniy understand english,,,,because he reply 1 time in this topic.

 

Forum on trading, automated trading systems and testing trading strategies

Discussion of article "Indicator for Point and Figure Charting"

Aktiniy, 2013.10.30 14:32


Yes agree with the indicator has flaws. I did it only for manual trade, and did not think about the time of conversion.

Maybe if I have time, will publish its second version.

Thank you all for the comments. They help me in the following works do less flaws. 


 
pejman-m:

thx,

 but Aktiniy understand english,,,,because he reply 1 time in this topic.

 

Yes agree with the indicator has flaws. I did it only for manual trade, and did not think about the time of conversion.

Maybe if I have time, will publish its second version.

Thank you all for the comments. They help me in the following works do less flaws. 


So, he replied to all you further questions.
 

Dear angevoyageur,

do you know other p&f indicators for MT5 (of course free!!) ??

in MT4,i have few indicators for p&f,and 2 of them are better and work correctly: Cute_PnF_v1.3_for_4digits(or 5digits)  and  FXI_Point&Figure-Adv  ,,,but i don't find any correct indicator for MT5.

 
pejman-m:

do you know other p&f indicators for MT5 (of course free!!) ??

https://www.mql5.com/en/code/954

https://www.mql5.com/en/articles/368

 

Forum on trading, automated trading systems and testing trading strategies

Indicators: Point and Figure

newdigital, 2013.09.12 16:29

Point & Figure Charting

Point & Figure Charting reduces the importance of time on a chart and instead focuses on price movements. Point & Figure charts are made up of X's and O's, X's being new highs and O's being new lows. There are two inputs to a Point & Figure chart:

  1. Box Size: The size of movement required to add an "X" or an "O". For example, a stock at a price of $20 may have a box size of $1. This means that an increase from $20.01 to a high of $21.34 means another "X" is added. If the high price only increased to $20.99, then another "X" is not added because the stock didn't close another box size ($1) more.
  2. Reversal Amount: The size of reversal before another column is added to a Point & Figure chart. To illustrate, if the reversal amount is $3, then the $20 stock would have to fall down to $17 before a new column (in this example of O's) would be started.

One of the main uses for Point & Figure charts, and the one emphasized in this section, is that Point & Figure charts make it easier for traders to see classic chart patterns. In the chart below of the E-mini S&P 500 Future, the Point & Figure chart emphasized support and resistance lines as well as areas of price breakouts:


Again, the Point & Figure chart makes it easy for traders to see the double bottom pattern below in the chart of the E-mini S&P 500 Futures contract:


The e-mini chart above illustrates the two bottoms of the double bottom pattern, as well as the confirmation line that is pierced, resulting in a buying opportunity.

Point & Figure is a very unique way to plot market action. The strongsuit of Point & Figure charting is that it eliminates the element of time and focuses on what is truly important - price

 

I tried and understanded that the error of color  the columns is related to the definition of the columns

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