Point and Figure Setup

Point and Figure Charts

Point and Figure charts are used to identify support levels, resistance levels and chart patterns. Point & Figure ignores the time factor and concentrates solely on movements in price: a column of X’s or O’s may take one day or several weeks to complete.

View Point & Figure Charts

To view Point and Figure charts:

• Click on the toolbar; or
• Click View >> Line / Bar Types >> Point And Figure on the main menu.

Select Point & Figure Chart Styles

The default Point & Figure setting is:

• Box size of 1;
• Reversal amount of 3; and
• High/Low price option.

If you set up other Point & Figure styles, you can select these from:

• the drop-down box next to the Point & Figure icon or
• View >> Line / Bar Types >> Point & Figure on the main menu.

Box Sizes

On charts using a Log scale, box sizes are calculated as a % of the preceding price.

• Enter "1" and each box is calculated as 1% of the price below.

Normal scale box sizes are stepped as the scale changes.

• Enter "1" and the box size will be set as $1 for prices over $100.

See Point and Figure Construction for further details.

Create Your Own Point & Figure Chart Styles

1. Open the Indicator Panel - Select Indicators on the main menu
2. Select Point and Figure in the left column of the Indicator Panel

   

3. Adjust the Reversal amount in the center of the Indicator Panel
4. Adjust the Box size
5. Select a price option: High/Low, Closing Price or Typical Price
6. Save your selection in the right column
7. Close the Indicator Panel
8. Select Logarithmic scale On/Off on the toolbar or under View on the main menu.