Hi,
it is not a standard feature in MT4 to get Point and Figure charting so I have coded my own indicator with the features I needed inside.
Here are some explanations:
you can use it on any pair any time frame.
X correspond to green boxes, O are red boxes
the parameters are as follow:
- BoxSize: value in pips : gives the size for one box (one X or one O)
- MinBox: number of boxes you want to have to consider a reversal. if it is for instance 3 then you need to get 3 boxes in the opposite direction to get a reversal, before the boxes won't be drawn. If this feature doesn't interest you, just put 1 (not 0!)
- WidthBox: with of the box in bars. for instance 4 mean that one box will be as wide as 4 bars (or candlesticks)
it is not a standard feature in MT4 to get Point and Figure charting so I have coded my own indicator with the features I needed inside.
Here are some explanations:
you can use it on any pair any time frame.
X correspond to green boxes, O are red boxes
the parameters are as follow:
- BoxSize: value in pips : gives the size for one box (one X or one O)
- MinBox: number of boxes you want to have to consider a reversal. if it is for instance 3 then you need to get 3 boxes in the opposite direction to get a reversal, before the boxes won't be drawn. If this feature doesn't interest you, just put 1 (not 0!)
- WidthBox: with of the box in bars. for instance 4 mean that one box will be as wide as 4 bars (or candlesticks)
Attached File(s)
PointAndFigure.mq4
7 KB
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13,696 downloads
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Uploaded May 29, 2008 9:18am