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Open Feature request MC-864

Point and Figure Box Size Options

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Description

Currently when you create a Point and Figure (P&F) chart in MultiCharts the box size is fixed.
 
For anybody that uses P&F charts this is very limiting and restrictive and more often than not can be quite inadequate and useless for proper/real analysis. This especially when plotting stocks that trade with very high and low prices keeping in mind that P&F removes time, so you can be looking back at a large historical price range over many years of data on a normal chart.
 
More common and helpful/useful options that most other P&F charting packages have, or if you draw P&F charts manually, are:
 
Scaled / Stepped /Semi Logarithmic Box Sizes
This is where you can set different box sizes at different price levels so that P&F formations stay relevant at higher or lower prices. The higher the price the larger the box size, the lower the price the smaller the box size. It should be available to the user to be able to set these box sizes.
e.g.
$0-$5; 0.10 per box
$5-$10; 0.20 per box
$10-$20; 0.50 per box
$20-$100; 1.00 per box
$100-$200; 2.00 per box
$200-$500; 5.00 per box
$500-$2,000; 10.00 per box
$2,000-$5,000; 50.00 per box
 
Logarithmic / Percentage Box Sizes
This is where the box size increases as price increases. Each box size increases by a set percentage of the box below it. This can be helpful when there are large prices changes in a short time, or when price values are very large.
ATR Box Size
This is where the Average True Range of the underlying (the ATR period set by the user) is calculated and used to set the box size. This helps take into account volatility.
 
Is this feature/flexibility able to be added to MultiCharts?
It will greatly increase the usefulness of the Point and Figure charting capabilities of MultiCharts. Furthermore, it will also help MultiCharts be more real-life useful and usable when you are using a single chart to flick through a variety of stocks in a linked watch list; not having to constantly go change the box size because you go from looking at a stock that is trading at $1 to a stock trading at $400.

Steps to reproduce this issue

Create a P&F chart in MultiCharts and see that you are only about to set a fixed box size.

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History
Issue basics
  • Type of issue
    Feature request
  • Category
    Not determined
  • Targeted for
    MultiCharts Future Releases
  • Status
    Confirmed
User pain
  • Type of bug
    Not triaged
  • Likelihood
    Not triaged
  • Effect
    Not triaged
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Issue details
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    Not determined
  • Severity
    Normal
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