Point and figure chart

RSI

Well-Known Member
#41
i have an indicator ( PnF VALUE ) that lets you to adjust box size in mata stock , and also edited ( Graham Kavanagh 17 Apr 2004 ) AFL for amibroker .
First try to learn PnF charting and how to use it for trading. Getting visually appealing charts in Amibroker (some of which have been posted in this thread itself) or in Metastock is not the big thing. Your analysis must be accurate. Remember, PnF chart is entirely different from bar chart, candlestick chart, line chart or any other form of chart that one usually sees. Understand that PnF chart is mainly based on price movements. Neither Amibroker nor Metastock can handle Pnf charting which can be used for analysis and trading. So whatever may be the code, in my opinion, it will be successful in getting only visually appealin chart rather than a useful chart. Stop wasting time in coding Metastock or Amibroker. This is my sincere advise. First learn what PnF charting is all about. Otherwise you will be not be able to distinguish between visually appealing chart and practically useful chart.
 
#42
First try to learn PnF charting and how to use it for trading. Getting visually appealing charts in Amibroker (some of which have been posted in this thread itself) or in Metastock is not the big thing. Your analysis must be accurate. Remember, PnF chart is entirely different from bar chart, candlestick chart, line chart or any other form of chart that one usually sees. Understand that PnF chart is mainly based on price movements. Neither Amibroker nor Metastock can handle Pnf charting which can be used for analysis and trading. So whatever may be the code, in my opinion, it will be successful in getting only visually appealin chart rather than a useful chart. Stop wasting time in coding Metastock or Amibroker. This is my sincere advise. First learn what PnF charting is all about. Otherwise you will be not be able to distinguish between visually appealing chart and practically useful chart.
please check whether i am anywhere near the PnF charting skill.


sushil
 

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RSI

Well-Known Member
#43
O. K. You have Bulls Eye Broker. Now there is no necessity to run behind coding Amibroker or Metastock. You know how to use Bulls Eye Broker software also. But trading does not end with scanning for patterns and leaving the decision making process to software. Therefore download a few good books on PnF charting and learn the method. That will go a long way in improving your trading carrier.
 
#44
O. K. You have Bulls Eye Broker. Now there is no necessity to run behind coding Amibroker or Metastock. You know how to use Bulls Eye Broker software also. But trading does not end with scanning for patterns and leaving the decision making process to software. Therefore download a few good books on PnF charting and learn the method. That will go a long way in improving your trading carrier.

can you recomenend any specific book / writer

sushil
 

RSI

Well-Known Member
#46
can you recomenend any specific book / writer

sushil
1. Point and Figure Charting - Victor Devilliers & Owen Taylor

2. Definitive guide to point and figure charting - Jeremy Du Plessis

3. Point and Figure Charting - Thomas J Dorsey

4. Marc Rivalland on Swing Trading

5. Commodity Strategies - Thomas J Dorsey

6. Complete Guide to Point and Figure Charting - Heinrich Weber and Kermit Zieg

There are a few more important books whose names I do not readily remember.

There are several articles available around the net. If you can carefully search net, you will find many useful articles. Search some trading forums as well for imporatant threads on PnF. I cannot give names of other forums here.

Out of the books mentioned by me in the above list except book no. 2, all other books are available on net for free download. Search the net. I cannot give links here.

I hope this helps.
 

AW10

Well-Known Member
#48
1. Point and Figure Charting - Victor Devilliers & Owen Taylor

2. Definitive guide to point and figure charting - Jeremy Du Plessis

3. Point and Figure Charting - Thomas J Dorsey

4. Marc Rivalland on Swing Trading

5. Commodity Strategies - Thomas J Dorsey

6. Complete Guide to Point and Figure Charting - Heinrich Weber and Kermit Zieg

There are a few more important books whose names I do not readily remember.

There are several articles available around the net. If you can carefully search net, you will find many useful articles. Search some trading forums as well for imporatant threads on PnF. I cannot give names of other forums here.

Out of the books mentioned by me in the above list except book no. 2, all other books are available on net for free download. Search the net. I cannot give links here.

I hope this helps.
Having read, having manually drawn the P&F charts and traded for few days with this,
I will certainly recommend book
2. Definitive guide to point and figure charting - Jeremy Du Plessis
3. Point and Figure Charting - Thomas J Dorsey


One doesn't have to read all the books.. but I found Jeremy's book pretty simple and exhaustive to follow.

As mentioned by RSI - P&F chart is mainly about trading price action. Though there is lot of work done by Jeremy and his collegues off late about putting indicators (like MA, Stoch etc) on P&F chart..
There is another TA package UpDATA which is quite good in P&F charting. (though it does not support our market) . Update also supports adding indicators on P&F..

But to start with, lets get the basics first..

Happy Trading
 

AW10

Well-Known Member
#49
In metastock, one can adjust the box size but it needs to be done manually.
Though it does uses its own intelligence and calculate the box size when we select this option.
But anybody who is trying to read P&F chart, should know the concept of box size and its importance / its impact on P&F chart

Happy Trading
 

RSI

Well-Known Member
#50
There is another TA package UpDATA which is quite good in P&F charting. (though it does not support our market) . Update also supports adding indicators on P&F..

But to start with, lets get the basics first..
I deliberately omitted updata because it does not support our market.

Beware of the pit falls in applying indicators to a PnF chart. One must understand how PnF chart works and how indicators work. PnF chart is not bound by time nor by volume. It is mainly a price action chart, which "includes" time as well. This time aspect is not daily or weekly or intraday timeframe as one is accustomed to in a candlestick chart or bar chart or line chart. Time aspect in PnF chart is very different than that of bar chart of candlestick chart or line chart. Understanding this aspect is extremely important. When you understand this aspect, you will think several times before applying an indicator which is dependent on its own timeframe.

I hope this helps
 

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