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long term point and figure charts

  • #21
  • Feb 27, 2009 2:57pm Feb 27, 2009 2:57pm
Hi,

maybe I'm wrong but I think if and when p&f boxes appear depends on the volatility of the market. In a fast moving market alot of boxes appear on a tick or second. That means it's impossibile to buy or sell exactly above or below the first box in an uptrend or downtrend.

I've never worked with p&f charts.
  • #22
  • Feb 27, 2009 2:57pm Feb 27, 2009 2:57pm
I am not sure but I think this system is profitable enough to use a martingale strategy. it is not necessary to use martingale but I think it will increase the return significantly.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #23
  • Feb 27, 2009 2:58pm Feb 27, 2009 2:58pm
Looks like you can take 3 blocks atleast in winning trades before it turns


best regards
  • #24
  • Feb 27, 2009 3:00pm Feb 27, 2009 3:00pm
Quoting MCFly
Hi,

maybe I'm wrong but I think if and when p&f boxes appear depends on the volatility of the market. In a fast moving market alot of boxes appear on a tick or second. That means it's impossibile to buy or sell exactly above or below the first box in an uptrend or downtrend.

I've never worked with p&f charts.
It is true that it only moves when the market is moving. And it is also true that sometimes it is not possible to buy or sell exactly above or below the first box in an uptrend or a downtrend but that doesn't matter. The market rarely gaps more than 10 pips and if it does there is stil plenty of profit. just use stop orders instead of limit orders.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #25
  • Feb 27, 2009 3:33pm Feb 27, 2009 3:33pm
The stop loss rule has just been updated.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #26
  • Feb 27, 2009 3:40pm Feb 27, 2009 3:40pm
thanks a lot of mq4 indicator i can see it now, but do not understand very well how it works, i see up boxes and market going down and reverse, could you please explain one in detail, thanks a lot,
  • #27
  • Feb 27, 2009 3:54pm Feb 27, 2009 3:54pm
Quoting blanca
thanks a lot of mq4 indicator i can see it now, but do not understand very well how it works, i see up boxes and market going down and reverse, could you please explain one in detail, thanks a lot,
http://stockcharts.com/help/doku.php...ing_pnf_charts
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #28
  • Feb 27, 2009 4:01pm Feb 27, 2009 4:01pm
Quoting Gambler180
The stop loss rule has just been updated.
Hi Gambler180 ,
This is a great idea . I also found that with this indi you can see divergence .
If the indi is trending up and price is trending down , you can pretty much count on price to go the way the indi is going . Maybe Ron Raygun will build us a Ea according to your rules he builds awsome ea,s . Ron if you see this will you please consider it .?.......your awsome ......Tom
  • #29
  • Feb 27, 2009 5:17pm Feb 27, 2009 5:17pm
very interesting, ill surely check this out.

Thanks Gambler for your contribution.
  • #30
  • Feb 28, 2009 9:27am Feb 28, 2009 9:27am
Can you please explain what this Point and figure indicator does? It seems it has nothing to do with the price. Also please expalin this:

"Buy at one box above the starting point of the first box in a downtrend"

What shows the trend and where is the first box?

Sorry if I ask obvious things, but I havent seen this indicator before, and I do not know how to interpret it.

Thanks.
  • #31
  • Feb 28, 2009 9:32am Feb 28, 2009 9:32am
Quoting Gambler180
Have you ever heard the expression that less is more?
The first line...already make me agree with u....

Sonic
  • #32
  • Feb 28, 2009 10:42am Feb 28, 2009 10:42am
Quoting Arilou
Can you please explain what this Point and figure indicator does? It seems it has nothing to do with the price. Also please expalin this:

"Buy at one box above the starting point of the first box in a downtrend"

What shows the trend and where is the first box?

Sorry if I ask obvious things, but I havent seen this indicator before, and I do not know how to interpret it.

Thanks.
Please look at the link in post 27.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #33
  • Feb 28, 2009 5:48pm Feb 28, 2009 5:48pm
Quoting Gambler180
Yes it requires some cpu. BoxSize and MinBox should both be 10. And in width I have typed 4. If you type anything less than 10 in BoxSize MT4 will probably freeze.
This system is very interesting and easy to follow, thanks for the contribution.

Is there a way to look back only for let's say 200 bars or so to get it work with less CPU usage?

I think it's not necessary to event to many rules, the chart says it all.

It's a pitty that I can't get it to work on the trading simulator because it calls always the fridays close price but will give it a try on sunday and if I see any improvements on exit (the entry is more than clear), I will post it here.
Attached Image (click to enlarge)
Click to Enlarge Name: 5meett.gif Size: 23 KB
  • #34
  • Edited 4:39am Mar 1, 2009 4:37am | Edited 4:39am
Quoting cobraforex
This system is very interesting and easy to follow, thanks for the contribution.

Is there a way to look back only for let's say 200 bars or so to get it work with less CPU usage?

I think it's not necessary to event to many rules, the chart says it all.

It's a pitty that I can't get it to work on the trading simulator because it calls always the fridays close price but will give it a try on sunday and if I see any improvements on exit (the entry is more than clear), I will post it here.
Hi,

I have been using Renko charts recently, and am not sure what the difference is between these and Renko?

Has anyone had experience of using both and could you point out where they differ in use as they both seem to use the fact that a number of pips=a box size.

Thanks,

WG
Attached Image (click to enlarge)
Click to Enlarge Name: renko eurjpy.gif Size: 20 KB
  • #35
  • Mar 1, 2009 5:25am Mar 1, 2009 5:25am
Quoting Willowgal
Hi,

I have been using Renko charts recently, and am not sure what the difference is between these and Renko?

Has anyone had experience of using both and could you point out where they differ in use as they both seem to use the fact that a number of pips=a box size.

Thanks,

WG
I don't think it is renko charts you are using. All boxes in renko charts have the same size http://www.weboma.com/renko-chart-ho...-renko-charts/
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #36
  • Edited 10:22am Mar 1, 2009 7:19am | Edited 10:22am
Please look at how PF charts work before pummeling this poor guy with a million basic questions he has already answered. PF charts is how stocks were traded before computers and is one of the oldest methods I believe there is. http://forexpointandfigure.com/ http://stockcharts.com/help/doku.php...ing_pnf_charts
  • #37
  • Mar 1, 2009 7:31am Mar 1, 2009 7:31am
thanks bro...great indi...may i ask the best TF to play with..?

TQ
K.I.S.S -> Keep It Super Simple...
  • #38
  • Mar 1, 2009 7:50am Mar 1, 2009 7:50am
Quoting cili82
thanks bro...great indi...may i ask the best TF to play with..?

TQ
The timeframe does not matter. please read the the websites that I have linked to. Point and figure charts are based on price action, not time.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #39
  • Edited 8:44am Mar 1, 2009 7:51am | Edited 8:44am
Quoting Gambler180
I don't think it is renko charts you are using. All boxes in renko charts have the same size http://www.weboma.com/renko-chart-ho...-renko-charts/
Here is a real renko indicator.

Edit: I can see that the boxes changes when the timeframe is changed. Does someone know how to fix this? Renko should only be based at price action.
Attached File(s)
File Type: mq4 RENKO_2.mq4   9 KB | 717 downloads
File Type: ex4 RENKO_2.ex4   11 KB | 606 downloads
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #40
  • Mar 1, 2009 11:07am Mar 1, 2009 11:07am
Quoting Gambler180
The timeframe does not matter. please read the the websites that I have linked to. Point and figure charts are based on price action, not time.
Gambler180,

Thank you for sharing this strategy.

It is clear that the time frame doesn't matter but could you or somebody please explain why the point and figure chart changes in the MT4 when we change for example from M5 to H1. Which one of the charts is the true one?
Other question:
How the point and figure chart it looks like on the MT4 during a reversing time before reaching for example the MinBox=10, because at the end we will see reversing only in one box up or down depending if we go from long to short or opposite?

Thank you.

alfa99
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