Newby question: What is a chart using points

I was playing with resolution and I "discovert" charts using points? Is a point is the same as a pip in forex?

I did play with it. I select a chart with 40 points and the range of each bars equal 20 pip. If I select 30 points as the resolution, each bars measure 15 pip.

How is it construct?
Is it useable.
Anybody as wrtitten a strategy for it?

Any info appreciated

Martin

Hi Martin,

In futures a point is a whole number. A tick is a division inside the point.
So on the FTSE, a Point goes 4566, 4567, 4668, BUT it actual goes up in a tick size of 0.5.
So if you were watching the actual climbing up it would be 4566.0, 4566.5, 4567 etc.
I'm not sure if points relate to the standard forex CFD equivelent.
In Forex futures ie AUD/USD, it is currently a number like 0.9843.
Each tick is 0.0001 and I suspect that each point would also be 0.0001.

Neil.

Thank you Neil.
I will go to bed less dummy *

So in forex, if the lowest variation value is .00005, then a 40 point = .00020. A 20 pips range bar

Martin