Point and figure chart analysis...!

praveen98

praveen98

Well-Known Member
#62
#62
hi guys,
Crude OCTM chart


This Zerodha Kite chart, the first look it is better looking than PI pnf chart ...but there is no scale adjustment or reversal number choice is there for the user it seems...
 
Last edited:
B

boarders

Well-Known Member
#63
#63
praveen98 said:
hi guys,
Crude OCTM chart


This Zerodha Kite chart, the first look it is better looking than PI pnf chart ...but there is no scale adjustment or reversal number choice is there for the user it seems...
Click to expand...
also it is on 1 minute tf. for pnf we need 1 tick chart and 1 tick only so trades taken with above chart may hit stoplosses although the chart may not reflect those hits.
 
praveen98

praveen98

Well-Known Member
#65
#65
boarders said:
here is my chart as of yesterday 5:46 pm
Click to expand...
Hi Boarders,
Thanks for the chart....Which software you are using to draw pnf charts? Can you share the details of charting software and data feed...
Btw you are using two box reversal charts...if it is two box reversal chart,the program is drawing the chart incorrectly...

Yes, as you mentioned Purest form of pnf chart is tick chart ...but if we are using HL chart in 1M time frame it's ok...as maintaining tick data requires enormous space we can adjust with 1M data...but if tick is available...that is the best suited for pnf....I am here with attaching 5X2 HL 1M chart crudeM Oct@ 11.30Pm


Have a nice day
 
B

boarders

Well-Known Member
#66
#66
praveen98 said:
Hi Boarders,
Thanks for the chart....Which software you are using to draw pnf charts? Can you share the details of charting software and data feed...
Btw you are using two box reversal charts...if it is two box reversal chart,the program is drawing the chart incorrectly...

Yes, as you mentioned Purest form of pnf chart is tick chart ...but if we are using HL chart in 1M time frame it's ok...as maintaining tick data requires enormous space we can adjust with 1M data...but if tick is available...that is the best suited for pnf....I am here with attaching 5X2 HL 1M chart crudeM Oct@ 11.30Pm


Have a nice day
Click to expand...
i use amibroker with josh utility to extract data from nest which although not pure tick but is delayed max of 5 secs.

I do not agree with you as any timeframe other than 1 tick will make the pnf or renko plot totally wrong and unusable.

my chart is plotting correct as i myself have eyeballed the formation of forward and reverse boxes which it plots accurately and I trade the same.
 
You must log in or register to reply here.
Thread starter Similar threads Forum Replies Date
D Technical analysis Screener for point and figure chart Day Trading 1
H why point and figure charting is not famous ? Advanced Trading Strategies 1
E Point & Figure Charts Technical Analysis 7
S which is the best software for Point&Figure chart Software 1
praveen98 point and figure charting Technical Analysis 18

Similar threads