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Messages - Kshitij

General Discussion / Point and figure chart
May 12, 2020, 07:41:51 AM

Can you please tell me what does

Capital letters (A,B,C) and numbers 1 to 9 mentioned in between the point and figure chart mean?

also what does the price change factor in configuration menu mean , (like what's the point of using price change factor when I have given the minimum absolute box size and minimum box reversal)?

looking forward for your answer!
Thank you

Please note that in point and figure chart with 1 box reversal size

It is wrong to start a new column after every reversal

One-step-back can only occur in 1-box reversal charts.

There is a case where it is not necessary to move one column across when the price changes direction.

It occurs when the price reverses direction by the value of one box only and then reverses back in the opposite direction.

For example, if you are plotting a column of Xs and the price
reverses by one box, you move across to the next column to
plot the O. You have to move across to the next column
because there is no room to plot the O in the current
column of Xs. Now you have a new second column with
one O in it

Consider now what happens if the price rises you need to plot an X, but you do not need to move to the third column to do this, because there is room above the O in the second column

please rectify this,
thank you