Intraday Point and Figure Trading

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~~~XLChartPro is a Point and Figure Charting add-in for Excel XP/2000/97. This latest version now includes Moving Average line charts~~~

I've tested in recent versions of Excel. It seems to work well. Samples of my charts is above...

puma2 & fteller,

Thank you very much for the help for providing the excel spreadsheet, will try it out.

I hope the speadsheet will also benefits others in this forum who like to study Point & Figure Trading.

Cheers

---Crude Oil Weekly P&F Technical Outlook.
...Crude Oil Maintains The Upside Bias.OPEC decision was so helpful for crude pushing it up to the top of the range that is expected to remain among it $80-$85, as the commodity is trading now around $84.66. But how long the upside momentum will last as the Greek elections at the door and no one knows how results will come. In fact, central bankers seem to be more mature than the market speculated before, as they stand ready to stabilize financial markets in a coordinated action to provide liquidity if the Greek elections on Sunday cause a mess in the market....[by oilngold]
https://lh3.googleusercontent.com/--...9o/s576/05.png
Learn more! ↓↓↓
See also:
~~~>docs.google.com/open?id=0B9cvIxidsTjvQ2VmWU5xUk96alE
^^^ORvvv
~~~>img717.imageshack.us/img717/6808/12jun17.pdf
^^^ORvvv
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--The USD/JPY pair shot straight up during the week as the dollar found its footing against most currencies for the week.
--The 80 handle continues to be the epicenter of resistance for our money, and has still price down.
--The level won’t be considered broken out of it until we cross and close above the 80.50 level.
--This area is a clear top to the resistance area on the daily charts.
--Because of this, we are not ready to go along yet but believe that a break of the top of this week’s candle would be an excellent buy signal.
--As for selling, we are looking to do that now. [By FX Empire Analyst]
https://lh4.googleusercontent.com/-2...aEk/s576/1.png
> > Click to learn more! < < ↓↓↓
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[quote=bredin;5145603]Ok youve asked a bunch of questions, let me see how many of them I can answer...

"since P&F removes time, do you change the box size to look for supply/demand? In conventional supply demand using candlesticks, typically we look at a few time frames and mark out the zones b4 moving down to the smaller time frames to get better entries or to prevent entering at a supply zone in the lower time frame but it is a demand zone on the higher time frame."

To answer this you need to answer "why do we use larger tfs for analysis?" and "what price movement is typically on our larger tf charts?" Simply put we use bigger tfs to see bigger moves that filter out small shifts in price.
So looking at a 50x2 chart, for example, automatically filters out any price move of less than 100 or so pips. Which in turn means we start looking at moves of 200+ pips as the baseline of our trades.
Smaller charts such as 10x2 are used to enter at optimal points, and to show the PA that is more likely to result in trend (as much as I hate that word) changes.
P&F shows Supply and Demand: what do you think causes a price reversal large enough to start a new column?


"are the supply demand zone identify using similar fomrations like Rally-Base-Drop/Drop-Base-Rally?"

they are identical. The big difference is they often happen in successive candles (columns). After all its price movement that determines those formations, and price movement that draws P&F charts.

I'll take that a bit further: an uptrend in a P&F chart will leave areas of demand in its wake, and seen by the small retraces.... P&F shows where excess demand or supply still exists: it has to.


"Will the stop be very big as we are using box sizes."
"Can you elaborate more on the use of "space" in your trading?"

Stops, as defined by the majority of traders are not used with Space.

Space is both a method of capital protection, and of profit compounding.
It is borne of the idea of trading with maximum leverage with minimum risk.

Give me a moment to mark up a chart...
quote]

this is awesome!

The Dollar Index (DXY), which Intercontinental Exchange Inc. uses to track the greenback against the currencies of six major U.S. trade partners including the euro and the yen, advanced 2 percent, the most since December, to 83.285. It touched 83.431, the highest level since June 1.
==================================
Dollar Index [DXY]: This forum had the conviction to be a $ bull for the last 1 year or so when all expert commentary was bearish on the currency. The buck hasn’t disappointed by its performance either, having rallied from 73.26 in May 2011 to a close of 82.9420 last week, just under its previous high at 83.6700. Can the $ rally higher?
https://lh4.googleusercontent.com/-S...Oro/s576/1.png
> > Learn more! < < ↓↓↓
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EURUSD
BoxSize: 10
Reverse: 3

--EUR/USD Weekly Outlook and Trading Idea Outlook:
--As expected EUR/USD continued lower and almost reached the 1.2145 Fibonacci level (the low recorded last week was 1.2163).
--Now, despite the Friday's bounce, the daily chart remains very negative and I expect further weakness.
--We may see some choppy sideways action first (most likely between 1.2145 and 1.2345) because the market has become quite oversold.
--Only a rise abv 1.2430/40 will negate the immediate bearish outlook and will risk larger recovery twd 1.2670 before the downtrend from the May 2011 top resumes....
--Strategy: Holding short from 1.2600 is favored. Stop=1.2450. [By ibtimes]
https://lh6.googleusercontent.com/-H...32A/s576/1.png
> > Learn more! < <
See also ↓↓↓
~~~>_https://docs.google.com/open?id=0B9cvIxidsTjvbTVST0hIWGVmVkk
^^^ORvvv
~~~>_http://img694.imageshack.us/img694/7990/12jul15.pdf
^^^ORvvv
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I hope I didn't overlook it, but is seems a very important part of PnF is missing.
Sector analysis.

Is there in indicator that charts the combined graph of several pairs?
By that I don't mean an analysis of several pairs combines as if it was just one pair.

Hi TraderSeven,

I’m not in any way promoting this company but try LiteForex >> http://www.liteforex.com/downloads/mt4/
Why – you mention “sector”, if you mean each currency index here is the list >> http://www.liteforex.com/trading/trading-instruments/indices/
Just open chart index, load PnF indicator and …
Of course you have to be aware of bar creation time issue , I mean each broker has its own GMT location settings.

Next possible option - you can create synthetic pair/symbol from your broker feed. If you interested in this kind of exercise you have to use offline chart. Personally I’m using Basketv6 indicator (see attachment) and I must say it saves me a lot of work. Originally it was developed for T101 method, but it can be modified to create whatever combination of symbols/pairs you like.

I’m attaching also TXT with instruction how to use it. It was taken from other tread so discard these fragments.


Just search this forum and you’ll find all tools you need


Best Regards
Nht

Sector was perhaps a poor choice of words. It's just that I learned PnF with stocks, so I think in those terms

But still it possibly could be useful to group, for example, all USD based pairs.

Thanks for the basket indicator!

im very interested in intraday PnF. Please keep the thread going!

–Please note that overall GBP/USD has been in a very volatile sideways mode since January 2009.
–A break below 1.5269 and then the low of January 13th i.e.
–1.5233 may indicate a break below the lower support line.
–Please check this weekly chart of GBP/USD.
–Strategies for Trading GBP/USD (British Pound-Dollar): s mentioned above, our overall outlook for GBP/USD stays bearish but initially we stay neutral to expect some volatile sideway moves and even the possibilities of some further upward consolidation can’t be ignored.
–We are avoiding longs for GBP/USD right now, considering the overall bearish outlook.
–As mentioned above, initially we will be watching for the breaks of mentioned resistance and supports for the next week's trade decisions.
– [By forexabode.]
http://i1165.photobucket.com/albums/...n/12Jul222.png
See also ↓↓↓
~~~>_http://img16.imageshack.us/img16/6202/12jul21.pdf
^^^ORvvv
~~~>_https://docs.google.com/open?id=0B9cvIxidsTjvdlFOalNHS3c3bnM
^^^ORvvv
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The very useful thread here, thanks!

Puma

Can you elaborate as to how to use these moving average lines...?

Thanks


daveM

Hi,

I decided to do some testing with excel files, available here in this tread and on the internet. Unfortunately I must say that every single file had some issues. Even latest given by >puma2< had some problems.
I’m not a developer and most of the VBA code was taken from somewhere else. My work was just to put this all together. Code is messy but its working, for me this is all I need from any software I use.
I’m also attaching MT4 script which I use to export quotes from all symbols displayed in “Market watch” panel.
I don’t think any FAQ is needed, but simple explanation of how to use this xlsm-mq4 combo :
- create CSV files using attached script (they are located in …[MT4]\experts\files folder)
- select file you want to analyze
- choose BoxSize and Reversal values (section circled in red can help you with this)
- generate chart

Hope you like it

About MA’a on PnF charts –
“…There are at least three possible moving average signals. First, chartists can look for price to cross the moving average. A move above the moving average is bullish, while a move below the moving average is bearish. Second, chartists can identify the direction of the moving average. A rising moving average is bullish and a falling moving average is bearish. Third, chartists can use two movingaverages to generate signals. A bull signal is triggered when the shorter moving average crosses above the longer moving average. A bear signal triggers when the shorter moving average crosses below the longer moving average…”
It was taken from http://stockcharts.com/help/doku.php...:nf_indicators


Best regards
nht

edit:
reuploaded ZIP file; XLSM file replaced with most current version

While you should be commended for doing all this work...why are you re-inventing the wheel?

There's at least 3 versions of PnF for MT4 floating in this thread which will do the job for you on the fly.

-GOLD: Although GOLD rallied sharply to close higher the past week, it remains trapped in a range between the 1,544.35 and the 1,640.45 levels.
-In order for the commodity to extend its upside it will have to break and hold above the 1,640.45 level, its range top.
-This if seen will open up further upside towards the 1,670.70 level and then the 1,700.00 level.
-Its weekly RSI is bullish and pointing higher suggesting further strength.
-The alternative scenario will be for the commodity to return to the 1,546.95 level on price failure where a violation will aim at the 1,527.05 level where a breach will resume its broader medium term weakness and then pave the way for further declines towards the 1,500.00 level.
-Price hesitation could occur here but if that level gives way, expect the commodity to decline further towards 1,478.05 level.
-All in all, GOLD continues to hold on to its broader medium term downside though trading in a range[Written by FXTechStrategy]

https://lh4.googleusercontent.com/-5...76/12Aur01.png
>>>Click for larger picture in new window!<<<
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vvv Click to learn more! vvv
See also vvv
~~~>_https://docs.google.com/open?id=0B9cvIxidsTjvczdYMzY1eGpWbXM
^^^ORvvv
~~~>_http://img819.imageshack.us/img819/7263/12jul30.pdf
A d d i t i o n a l l y^^^

Hi almo,

Maybe you are right, but MT4 has some limitation. At some point I wanted to compare some stats from other files. Since I’m working on Daily charts it doesn’t matter where I made my calculation. It was just easier for me to do it in Excel then in MT4.

As I said before – all excel files I’ve tried was mainly designed for stocks and when fx quotes were imported all kind of errors appeared. Even after fixing importing and number formatting issues when chart was created in most cases there where some errors.
So I’ve decided to create something for myself.


PS.
Sorry for the inconvenience but in my last post by mistake I’ve uploaded wrong XSLM file. I’ve reuploaded correct version.


Best regards
nht

How is this chart generated please.....

Is it available to us........?


Thanks