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long term point and figure charts

  • #41
  • Mar 1, 2009 11:35am Mar 1, 2009 11:35am
Hi Alfa,

The PF chart looks differently on different timeframes because it is calculated based on the actual candles. Time is eliminated for some degree, but not the timeframe. Please read the link provided before to see how a PF charts is plotted. It does use the candles.

On a larger TF you will see longer blocks, but they are probably not built gradually, but appear at once. On the other hand, on smaller TF-s large blocks will probably not appear so suddenly, but the chart wil have much more whipsaws.
  • #42
  • Mar 1, 2009 12:17pm Mar 1, 2009 12:17pm
$497.00 for the "system" in the first link, too.
Quoting todder
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
  • #43
  • Mar 1, 2009 1:56pm Mar 1, 2009 1:56pm
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/

Hi,

Yes I know they have same size boxes (so are these), but this chart is zoomed out and what looks like longer lines are where there a few consecutive boxes of the same colour are stacked on top/below each other - they are based from the tick chart on 1min.

The way they are displayed here, they are handy to clearly see short term S/R levels for scalping.

OK, Imagine I put no image up at all what is the difference between Renko and P&F ?

Thanks

WG
  • #44
  • Mar 1, 2009 2:14pm Mar 1, 2009 2:14pm
Quoting Arilou
Hi Alfa,

The PF chart looks differently on different timeframes because it is calculated based on the actual candles. Time is eliminated for some degree, but not the timeframe. Please read the link provided before to see how a PF charts is plotted. It does use the candles.

On a larger TF you will see longer blocks, but they are probably not built gradually, but appear at once. On the other hand, on smaller TF-s large blocks will probably not appear so suddenly, but the chart wil have much more whipsaws.
Hi Arilou,

Thank you for your kind reply.

alfa99
  • #45
  • Mar 1, 2009 2:29pm Mar 1, 2009 2:29pm
Quoting Gambler180
Buy at one box above the starting point of the first box in a downtrend
Sell at one box below the starting point of the first box in an uptrend.
A trend is defined as 10 or more boxes in the same direction.
Gambler You buy/sell one box above/below down/uptrend, so do you buy or sell just at resistance/support ? In classic use P&F one shoud buy/sell above/below resistance/support (2 boxes above/below starting point of contrary trend).

Andrew
  • #46
  • Mar 1, 2009 3:06pm Mar 1, 2009 3:06pm
http://www.viddler.com/explore/forex...deos/33/21.864

  • #47
  • Mar 1, 2009 3:37pm Mar 1, 2009 3:37pm
Quoting Willowgal
Hi,

Yes I know they have same size boxes (so are these), but this chart is zoomed out and what looks like longer lines are where there a few consecutive boxes of the same colour are stacked on top/below each other - they are based from the tick chart on 1min.

The way they are displayed here, they are handy to clearly see short term S/R levels for scalping.

OK, Imagine I put no image up at all what is the difference between Renko and P&F ?

Thanks

WG
The difference is that renko boxes are not stacked on top of each other. You would have known that if you had looked at the picture on the website I linked to. It is not a renko chart you are using.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #48
  • Mar 1, 2009 6:05pm Mar 1, 2009 6:05pm
hi all...

The main difference between the Renko and the P&F....is that unless you get a special programmed version of the Renko (on another site)...I think its called a Sticky Renko...could be wrong

The reversal is always the same...it is not adjustable, to reverse you have to have a move of 2 times the brick size....and the first Brick on the reversal is plotted starting at the beginning of the last brick before the reversal......
  • #49
  • Mar 1, 2009 9:15pm Mar 1, 2009 9:15pm
Cobra:

The p&f indicator doesn't like 0 as a multiplier. I have a dual core 4 GB RAM system and cpu went to 45-50% after a while. Setting the multiplier to 1 should make it easier.

You can also go into Tools-> Options -> Charts and change the setting of bars in history to something less than 5000 which might help also, but the former of changing the multiplier seemed to unfreeze things up.
  • #50
  • Mar 1, 2009 11:09pm Mar 1, 2009 11:09pm
Quoting ranger_lp
Cobra:

The p&f indicator doesn't like 0 as a multiplier. I have a dual core 4 GB RAM system and cpu went to 45-50% after a while. Setting the multiplier to 1 should make it easier.

You can also go into Tools-> Options -> Charts and change the setting of bars in history to something less than 5000 which might help also, but the former of changing the multiplier seemed to unfreeze things up.
Yes, that's true, when the datafeed arrived it got frozen and I set it to 1.

Now I have it on a seperate MT4 platform and it works fine.

Anyhow I asked a coder to have a look on it.

I'm still playing with some indicators to get a good exit signal, will come back soon with that.
  • #51
  • Mar 2, 2009 6:45am Mar 2, 2009 6:45am
Quoting cobraforex
Yes, that's true, when the datafeed arrived it got frozen and I set it to 1.

Now I have it on a seperate MT4 platform and it works fine.

Anyhow I asked a coder to have a look on it.

I'm still playing with some indicators to get a good exit signal, will come back soon with that.
that would be a great thought..!!
glad if u can share ..good luck all
K.I.S.S -> Keep It Super Simple...
  • #52
  • Mar 2, 2009 8:08am Mar 2, 2009 8:08am
Hello! indicators are very bad! some said that we need to work correctly, I tried a lot to search but there is little information!

Someone know how do these indicators work best? or have some other, can we get much from them!

Money4Nothing!
you can made any motion to the horizontal lines and the indicator?
  • #53
  • Mar 2, 2009 9:27am Mar 2, 2009 9:27am
Quoting cobraforex
Yes, that's true, when the datafeed arrived it got frozen and I set it to 1.

Now I have it on a seperate MT4 platform and it works fine.

Anyhow I asked a coder to have a look on it.

I'm still playing with some indicators to get a good exit signal, will come back soon with that.

Hi Cobraforex or Anybody,

If you could help, how do you set the datafeed to 1? thanks for the reply.
  • #54
  • Mar 2, 2009 10:02am Mar 2, 2009 10:02am
Quoting Fxcash
Hi Cobraforex or Anybody,

If you could help, how do you set the datafeed to 1? thanks for the reply.
There is no such thing, it's the multiplier that you set to 1 in the indicator properties.
  • #55
  • Mar 2, 2009 10:18am Mar 2, 2009 10:18am
What still puzzles me about this indicator, is that it being only price-driven, why does it show differently on each different timeframe?
  • #56
  • Mar 2, 2009 10:32am Mar 2, 2009 10:32am
Quoting doblece
What still puzzles me about this indicator, is that it being only price-driven, why does it show differently on each different timeframe?
That question has already been answered
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #57
  • Mar 2, 2009 11:18am Mar 2, 2009 11:18am
Sorry, my bad. Missed that answer Thanks!
  • #58
  • Mar 4, 2009 5:50am Mar 4, 2009 5:50am
hey Gambler! thanks for sharing this great man! i used it yesterday and got in a trade on USD JPY, one box is 15 pips....
Attached Image
  • #59
  • Feb 14, 2010 2:03pm Feb 14, 2010 2:03pm
Hi,

Has anybody had anymore success with this P&F trading style?

Thanks!
  • #60
  • Feb 14, 2010 2:32pm Feb 14, 2010 2:32pm
Here is one other indicator that might be of interest if you are interested in p&f, I did it some time ago - it shows p&f in the main chart as a channel.
Attached Image (click to enlarge)
Click to Enlarge Name: examplechan.gif Size: 26 KB
Attached File(s)
File Type: mq4 mikko_pipschannel.mq4   2 KB | 777 downloads
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