Point and Figure

HM is correct. A true or "pure" P&F chart would not have a time frame selection in the first place. Unless they have changed it, since I left, the only real P&F chart you can do with eSignal is based on a tick chart. And that used to limit you to two days of data. Maybe it's more now.

Having said that the box and reversal size selection seemed to me to be as arbitrary as a time frame selection. Meaning you'll just have to play around until you find a combination you like. I did spend considerable time back testing various combinations of box size,reversal, time frame, entry/exit rules and never did find anything consistently worth while. Doesn't mean someone else couldn't do better though.
 
Cancelled Orders Charges - yea depends on the exchange
obviously to try to reduce spoofing and good money for the exchanges that charge it

Point & Figure

Quote Tracker does P&F
But like all these things the tighter the timeframe or in this case the box size the less reliable it is

QuoteTracker Discussion can be found at www.forum.qtusers.com
 
Wow, thanks so much fellas, for reviving my dying thread.

I took the advices and I tried to do it.

Here's what I did: I kept the chart on 5 minutes and changed chart settings to point and figure and this is what I see, which looks pretty useless (see below). Maybe I need to change the box and reversal sizes for shorter time frame to 0 ,25 as Whoispaul stated? How do I change the box and reversal for the point and figure on esignal?

Hi HM, I understand what you mean, but it appears that by default, the chart has to be on some kind of time frame at all times. So I kept it on 5 mins. But the point and figure chart is charting all kinds of numbers when I do this. All I need is for it to chart that particular day's data. For example, on friday ibm's low was 94.55 and high was 96.85. But this charts shows 74 lows and 100 highs which is confusing.

I thought that there would be a way where I can plot the PnF charts in real time where I can buy and hold on the X until it reverses to O and short and hold on the O until it reverses to X, etc.. Is this possible to do?

I understand that this is a very confusing subject since it doesn't involve time. I will buy the book as HM said but I don't think the book will tell me how to set it up in esignal. So for this, I need help from et members. I just wanna know if what I am trying to do is possible with esignal or not.

I have tradestation quotes also, so If some one knows how to do what I am looking for in tradestation, that's fine too. But when I try it in tradestation, it doesn't work correctly there either. Maybe I'm doing something wrong.

Thanks a lot
 
p and f is how the floor traders used to chart. They did refer to time, the buzzer on the floor sounded every 15 minutes. Has stood the test of time and technology.
 
Quote from TL Trader:

HM is correct. A true or "pure" P&F chart would not have a time frame selection in the first place. Unless they have changed it, since I left, the only real P&F chart you can do with eSignal is based on a tick chart. And that used to limit you to two days of data. Maybe it's more now.

Having said that the box and reversal size selection seemed to me to be as arbitrary as a time frame selection. Meaning you'll just have to play around until you find a combination you like. I did spend considerable time back testing various combinations of box size,reversal, time frame, entry/exit rules and never did find anything consistently worth while. Doesn't mean someone else couldn't do better though.
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I tried doing it on a tick chart but point and figure is grayed out when I have the charts on tick:(
 
TradeStation used to offer P&F charts as a "Style" selection but I see they got rid of it.

All of these software companies like TradeStation, ESignal, Ensign, etc. add features to either compete with each other's offerings or drag in users but something get's lost in the translation when you see the resultant charts.

I think you will be better off with a firm devoted to P & F - as opposed to someone's add on designed only to hook a few more fish.

Anyway, a Google search on "point and figure" will bring up more web pages than you can sift through on a Sunday evening.

Dorsey Wright (Tom Dorsey's site) will teach you all you want to know and more about Point and Figure but their data service is EOD only. They used to offer a free trial.

Another old haunt that comes to mind is ez-pnf. They had a free trial with various educational options for those wanting to take a serious look. Their data was from EOD sources as well as I recall.

It is just my experience / opinion, but I did not find intra-day P & F charts helpful in daytrading. I think it is better suited to EOD analysis for swing/position trading but it is just my opinion.

Good luck wherever the search takes you.

HM

Quote from Scalper007:

I tried doing it on a tick chart but point and figure is grayed out when I have the charts on tick:(
More...
 
Quote from Scalper007:

Thanks HM. Looks like I am on my own on this one..
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You might consider using P&F to identify opportunities....stocks poised to break out above resistance.....or below support.....on daily P&Fcharts.....and then monitor them intraday on a 5 minute chart....timing the entry when the breakout occurs and using conventional technical analysis techniques to exit, re-enter etc....

Just a thought....

HM
 
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