Thank you Aron, this is an outstanding answer.
Great to have you here on FF.
Nice weekend - and happy trading.
Freewheelin
Great to have you here on FF.
Nice weekend - and happy trading.
Freewheelin
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Intraday Point and Figure Trading 545 replies
Trading with "Point And Figure" 35 replies
Point and Figure Trading 31 replies
Point and Figure Trading 16 replies
Pros and Cons of Point & Figure Trading 10 replies
DislikedAmibroker does not have an "official" point and figure plugin but PF charts are coded as anyother custom indicator. I have attached the formula .
My method:
1. Scan the maket for Patterns: scanner looks for incomplete and complete patterns in a range form 5 - 50 pip.
2. Resolution Check: establish whether the box size fits the timeframe. I do not have a preset box / interval parameters but a quick "Does chart look good? " check and ATR do the job pretty well.
3. Identify any other entry/ exit levels within the main pattern: Switch to a lower interval, and with a scroll of a mouse wheel modify the box size and look for SR Levels and additional price patterns (double tops and bottoms are not included in the primary scan) that would validate the main pattern.Ignored
DislikedYes, the numbers in the columns (example: 2 6 12 34 45) show that for the specific symbol a current pattern ( example : Double Top) is found for the box size : 2, 6, 12, 34, 45 pip.
You have to adjust AA settings:
Apply to
Feel free to check "all symbols" "use filter" or "current symbol"
Range > n last quotations: n = 1.
The exploration is built to find the current pattern not historical ones.
Wait for backfill: checked.
Make sure exploration runs on updated chart
sync chart on select: checked.
AB will load automatically the chart for the selected symbol in AA
tip:
Use mouse wheel to change box size parameter in chart's parameter window.Ignored
Disliked
And something I would like to know also....is if your using 5min bar data to plot the X and O the price could have moved 100 pips before you get a printed X or O as it would only print after the TF period is over..Ignored
Disliked
So that means you would actually be using tick data and then would not matter what TF you used...as I know you can have 2 methods to plot...either using the High and Low of bar or using the closing price.Ignored