price step and point and figure indicator/Xo_v01

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Been checking out the Point and Figure EA nd I noticed in properties it doesn't say what the box size is, for X or O.  It dies state Price step as 50.  So what are the X and O values and how does it correlate to price step.
The Last Crusade
The Last Crusade
  • 2012.04.11
  • Roman Zamozhnyy
  • www.mql5.com
Take a look at your trading terminal. What means of price presentation can you see? Bars, candlesticks, lines. We are chasing time and prices whereas we only profit from prices. Shall we only give attention to prices when analyzing the market? This article proposes an algorithm and a script for point and figure charting ("naughts and crosses") Consideration is given to various price patterns whose practical use is outlined in recommendations provided.
 
georgeP:
Been checking out the Point and Figure EA nd I noticed in properties it doesn't say what the box size is, for X or O.  It dies state Price step as 50.  So what are the X and O values and how does it correlate to price step.
Which Point and Figure EA ? Are you talking about an indicator or an EA ?
 
angevoyageur:
Which Point and Figure EA ? Are you talking about an indicator or an EA ?
I believe it is an EA, but goes under custom indicators, that is the listing in MQL5 I have. It goes by the name Xo_v01. Why can't anyone come up with standard point and figure charts.  Would make it a lot easier to understand.
The Last Crusade
The Last Crusade
  • 2012.04.11
  • Roman Zamozhnyy
  • www.mql5.com
Take a look at your trading terminal. What means of price presentation can you see? Bars, candlesticks, lines. We are chasing time and prices whereas we only profit from prices. Shall we only give attention to prices when analyzing the market? This article proposes an algorithm and a script for point and figure charting ("naughts and crosses") Consideration is given to various price patterns whose practical use is outlined in recommendations provided.
 
georgeP:
I believe it is an EA, but goes under custom indicators, that is the listing in MQL5 I have. It goes by the name Xo_v01. Why can't anyone come up with standard point and figure charts.  Would make it a lot easier to understand.
So you can't provide a link, people have to search it for helping you. Have you tried to ask the author ?
 
angevoyageur:
So you can't provide a link, people have to search it for helping you. Have you tried to ask the author ?
Link...https://www.mql5.com/en/code/954 No I haven't tried the Author, but i will.  I also found some other Point and figure charting on this forum (in this link) that looks more like point and figure charts, but it is code done by the Author in his interpretation. I have found since joining MQL5, that not only do I need to know basic skills with indicators but I also need to know MQL5 programming to understand these indicators.
Point and Figure
Point and Figure
  • votes: 7
  • 2012.09.17
  • www.mql5.com
Downloads: 614 Views: 1665 Rating: Files:
 
georgeP:
Link...https://www.mql5.com/en/code/954 No I haven't tried the Author, but i will.  I also found some other Point and figure charting on this forum (in this link) that looks more like point and figure charts, but it is code done by the Author in his interpretation. I have found since joining MQL5, that not only do I need to know basic skills with indicators but I also need to know MQL5 programming to understand these indicators.

That has nothing to do with MT5/mql5 but with the quality of the code. Code from Codebase are provided for free and the authors don't always have time or skills to provide professional quality work. If it's that you want, you can hire a programmer in Jobs section or see available products in the Market.

About Xo_v01 indicator, the box size is given by Price size, and is 50 points by default (for example 0.00050 for EURUSD on 5 digits broker). Reversal is given by Threshold value in number a box, by default 2 box, so 100 points.

Did you read the below article ?

Indicator for Point and Figure Charting
Indicator for Point and Figure Charting
  • 2013.05.16
  • Dmitriy Zabudskiy
  • www.mql5.com
There are lots of chart types that provide information on the current market situation. Many of them, such as Point and Figure chart, are the legacy of the remote past. This chart type has been known since the end of the XIX century. It was first mentioned by Charles Dow in his Wall Street Journal editorial written on July 20, 1901 who labeled...
 
angevoyageur:

That has nothing to do with MT5/mql5 but with the quality of the code. Code from Codebase are provided for free and the authors don't always have time or skills to provide professional quality work. If it's that you want, you can hire a programmer in Jobs section or see available products in the Market.

About Xo_v01 indicator, the box size is given by Price size, and is 50 points by default (for example 0.00050 for EURUSD on 5 digits broker). Reversal is given by Threshold value in number a box, by default 2 box, so 100 points.

Did you read the below article ?

Yes I have read the point and figure link, article you provided. I know how it works.  But I never heard the term price step before, it was always box size. I'll look into it, but no I am not looking for a programmer.  I am interested in learning MQL5 programming myself, though!  If only to understand these indicators.  The chart itself does not look like a traditional point and figure chart.  So I need to think around that. Thanks for reply.
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