Do you know this chart-type? | Forex Factory

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  • #1
  • First Post: Jan 20, 2006 1:32pm Jan 20, 2006 1:32pm
http://qweet.piranho.com/pics/chart-...escription.jpg
or visit: pictures

I think it could be useful to have the exact trends to be shown. Do you know any broker offering such a chart?

qweet
  • #2
  • Jan 20, 2006 1:55pm Jan 20, 2006 1:55pm
afaik this type of chart was used years ago, before the era of computers come. does anyone need it today?
time is money! Z
  • #3
  • Jan 20, 2006 1:58pm Jan 20, 2006 1:58pm
well, I need it Simply because this would show me exactly the trends, connected to each other.

Why was the old one taken away? All the new ones I know aren't exactly showing the trends. Every candlestick is just a sum up of ups and downs. I don't know how many ups and downs are in there and how long they were.
  • #4
  • Jan 20, 2006 2:09pm Jan 20, 2006 2:09pm
Looks like Chaos Fractal patterns... micro-trend patterns that piece together like a jigsaw to form the overall chart pattern.

Many charting patterns include a Chaos Fractal indicator.
  • #5
  • Jan 20, 2006 2:13pm Jan 20, 2006 2:13pm
a chaos fractal indicator? What is this?

And why not looking at the raw trends?
  • #6
  • Jan 20, 2006 2:15pm Jan 20, 2006 2:15pm
Omega Pro has a column in Radar Screen which shows the last 8 {i believe} ticks direction.
Never tried to assosciate the +/- to price in order to plot same.

But I do know what you mean. I often watch it for Entry/Exit timing.

B
Attached Image
  • #7
  • Jan 20, 2006 2:16pm Jan 20, 2006 2:16pm
The Investor/RT Fractal indicator is based upon the "Bill Williams Fractal" in the book "Trading Chaos" by Bill Williams, PhD. A fractal is an entry technique that is traditionally defined as "a bar that has two preceding and two following bars with lower highs (or lower lows, on a down move)". Several different varieties of up and down bar 5-bar fractal formations can be seen in the diagrams in the URL link below.

http://66.102.9.104/search?q=cache:S...dicator+&hl=en
  • #8
  • Jan 20, 2006 2:25pm Jan 20, 2006 2:25pm
Well one could not only watch the last pips direction, but also the one before, and before...
I mean, start associating the first one with the current-price. Then go one down to the next one. And so on.

These little movements are describing the whole market!
  • #9
  • Jan 20, 2006 2:27pm Jan 20, 2006 2:27pm
I'm able to see in your trend-box
Inserted Code
+ = -

+ and - allright, but why = ? Is the market at any time standing still?
Sure, it could take one minute from one tick to another one, but in relation to the hours, days and years before and after, is this one little minute important?
  • #10
  • Jan 20, 2006 2:43pm Jan 20, 2006 2:43pm
Quoting qweet
I'm able to see in your trend-box
Inserted Code
+ = -

+ and - allright, but why = ? Is the market at any time standing still?
Sure, it could take one minute from one tick to another one, but in relation to the hours, days and years before and after, is this one little minute important?
Is the market at any time standing still? Only when there is an = sign.

If a series of positive ticks or a series of negative ticks are important to you, why would a series of equal ticks be irrelevant?

Users discretion I guess.

I wish you luck in finding what you are looking for.

B
  • #11
  • Jan 20, 2006 2:49pm Jan 20, 2006 2:49pm
Quote
equal ticks

I don't think an equal tick does exist! Because it is always continuing moving up or down.

If 10 seconds nothing happens, is it an equal tick? If you're looking from the 5sec chart you may say, "it was an equal tick", but if you're looking from 1 hour it is just nothing in relation to it.

So it comes down for me, that equal ticks simply does not exist.

What about the weekend? Well I think it is also relative. Very nothing in relation to a year.
  • #12
  • Jan 20, 2006 3:54pm Jan 20, 2006 3:54pm
Quoting qweet
I don't think an equal tick does exist! Because it is always continuing moving up or down.

If 10 seconds nothing happens, is it an equal tick? If you're looking from the 5sec chart you may say, "it was an equal tick", but if you're looking from 1 hour it is just nothing in relation to it.

So it comes down for me, that equal ticks simply does not exist.

What about the weekend? Well I think it is also relative. Very nothing in relation to a year.
If 10 seconds nothing happens, why should it not be an equal tick? Because it is only during 10 seconds, a minor period of time in relationship with, say, an hour? What if the price does not move for 30 or 60 seconds, or for maybe 2 minutes, is that of no relevance neither? Where lies the break between relevant and irrelevant?

On the other hand, if prices are continuously moving up and down within a very tight range of several pips for one hour, these movements will look like an "equal tick" (doji) in an hourly chart as well.

You see what you want to see.
  • #13
  • Jan 20, 2006 4:07pm Jan 20, 2006 4:07pm
Somewhat of a quote from Aroon. {Chande disciple Aroon?}

What if the price {trades at the same} price for 30 or 60 seconds, or for maybe 2 minutes {what? you don't think this happens}, is that of no relevance either?

Tells me that the price has reached a point of equilibrium.{Buyers&Sellers both happy with the price} And it may be time to take profit OR suggest i can hang on to a small losing position.

B
ps{great movie btw. Equilibrium}
  • #14
  • Jan 20, 2006 5:47pm Jan 20, 2006 5:47pm
Quoting qweet
http://qweet.piranho.com/pics/chart-...escription.jpg
or visit: pictures

I think it could be useful to have the exact trends to be shown. Do you know any broker offering such a chart?

qweet
This is point and figure charting. Some chart packages will have it. I know Wealth-Lab Developer does but I am not sure about any free web based ones because I don't use them.

Simon
  • #15
  • Jan 21, 2006 4:26am Jan 21, 2006 4:26am
I found some packages by myself now, yes. But I didn't find any broker offering such charts. Does anybody know a broker offering such a chart?
  • #16
  • Jan 21, 2006 5:30am Jan 21, 2006 5:30am
Quoting qweet
I found some packages by myself now, yes. But I didn't find any broker offering such charts. Does anybody know a broker offering such a chart?
If that's what you're looking for , FX S0L offers Point&Figure ( <- Investopedia def. ) charting in its trading platform, altough I must admit that, while always curious about this kind of charts, which I read were widely used in the past, I still have to find the way to use them efficiently.
Anyway, you'll have to find the optimal settings for box size an reversal, and I think this is a kind of charting tecnique suited for long term - position trades.


Happy and prosperous trading to everybody !!!


QG
  • #17
  • Jan 21, 2006 6:53am Jan 21, 2006 6:53am
yes there are little brokers who show charts for the mini accounts also.
  • #18
  • Jan 21, 2006 7:32am Jan 21, 2006 7:32am
sorry, but I didn't find a broker who offer a P&F chart, showing the trends in pip-fashion. (5 pips up is a trend, 2 pips down is a trend)

do you have an exact link?
  • #19
  • Jan 21, 2006 8:08am Jan 21, 2006 8:08am
With the platform I mentioned above You could set the box size to 0.0001 and the same for reversal and it should do the job.

BUT ... I'm quite a newbie so i guess this belongs to that category of info worth what you pay for ...


QG
  • #20
  • Edited 8:57am Jan 21, 2006 8:49am | Edited 8:57am
Visual trading platform from CMS offers point and figure charts and Renko charts. You can download that platform for free.
A truly wise man, always has more questions than answers.
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