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Created page with "===Understanding Point Chart Type=== right|point barsEach bar in a Point chart is formed by a tick group that consists of successive ticks over a defined p..."
===Understanding Point Chart Type===
[[File:Point.png|right|point bars]]Each bar in a Point chart is formed by a tick group that consists of successive ticks over a defined price range. The bar's Open component is always one tick above or below the Close component of the previous bar, and the bar’s Close component is always at the High or the Low of the bar. All bars are of the same height, equal to the range. The next bar is started once the tick with a price outside of the original bar's range has been received. If the price movement is greater than the combined range of two consecutive bars, additional "virtual" bars are inserted between the bars to fill in the gap.
<br><div style="background-color: #E3FBE5;">'''Note:''' A Point chart can only be created from tick data.</div>
===How Point bars are constructed===
A Point bar is closed when the following condition is met: <br>
''modulus |High - Low| > chart resolution * (MinMovement / PriceScale)''
<br>
The price difference in points equals the selected chart resolution. A new bar is formed from the remainder of the tick price with the MinMovement*PriceScale offset.
The volume is allocated proportionally between all bars that are built from one tick (i.e. summarized tick volume equals the summarized bars volume). The volume of one tick is included into a bar only once (if several bars are formed from one tick, the volume is assigned to the first bar of this group and other bars receive 0).
===Selecting Point Chart Type===
Point chart type can be selected from the '''Format Instruments''' window:
# Open the '''Format Instruments''' window.<br><span>{{FormatSymbol}}</span>
# Select the '''Settings''' tab.
# In the '''Chart''' section, in the '''Resolution''' Interval text box, enter the price movement, in points, that is to trigger creation of the next bar.
# In the '''Resolution''' Unit drop-down list box select '''Point'''.
<br><div style="background-color: #E3FBE5;">'''Note:''' The maximum number of points that can be used to create a single bar is 2,000,000,000.</div>
Resolution of Point charts can also be set by one of the following methods:
* Click the '''Range Bar''' [[File:Resolution_Range.png]] icon on the '''Resolution''' toolbar; from the drop-down list select the number of points to be used for each bar;
* Click the down-arrow to the right of the '''Resolution''' [[File:Resolution_10.png|16px]] icon on the '''Command Line''' toolbar, then point to '''Range Bar''' and select the number of points to be used for each bar from the drop-down list;
* Enter the appropriate command into the Command Line toolbar combo box.
<br>
[[MultiCharts_Work_Area#Understanding_Command_Line|'''Click here''']] to find out how to use the Command Line.
<br>
===Selecting Point Chart Style===
Point bars can have any of the regular bars styles. See [[:Category:Chart_Style|'''this section''']] for more details.
===Point Original===
Point Original charts are not available from the chart settings, but it is possible to turn it on through [[MultiCharts_Work_Area#Understanding_Command_Line|Command Line]]. To do that type "1 orpt" into the Command Line field.<br>
One of the differences between Point Original and regular Point bars consists in the condition that has to be met for bar closing: <br>
''modulus |Open*PriceScale - Close*PriceScale| >= chart resolution''.<br>
Another difference is that a tick is not split between several bars, but is completely included in one bar, even if the price difference exceeds the chart resolution.
[[Category:Non-Standard Chart Types]]
[[File:Point.png|right|point bars]]Each bar in a Point chart is formed by a tick group that consists of successive ticks over a defined price range. The bar's Open component is always one tick above or below the Close component of the previous bar, and the bar’s Close component is always at the High or the Low of the bar. All bars are of the same height, equal to the range. The next bar is started once the tick with a price outside of the original bar's range has been received. If the price movement is greater than the combined range of two consecutive bars, additional "virtual" bars are inserted between the bars to fill in the gap.
<br><div style="background-color: #E3FBE5;">'''Note:''' A Point chart can only be created from tick data.</div>
===How Point bars are constructed===
A Point bar is closed when the following condition is met: <br>
''modulus |High - Low| > chart resolution * (MinMovement / PriceScale)''
<br>
The price difference in points equals the selected chart resolution. A new bar is formed from the remainder of the tick price with the MinMovement*PriceScale offset.
The volume is allocated proportionally between all bars that are built from one tick (i.e. summarized tick volume equals the summarized bars volume). The volume of one tick is included into a bar only once (if several bars are formed from one tick, the volume is assigned to the first bar of this group and other bars receive 0).
===Selecting Point Chart Type===
Point chart type can be selected from the '''Format Instruments''' window:
# Open the '''Format Instruments''' window.<br><span>{{FormatSymbol}}</span>
# Select the '''Settings''' tab.
# In the '''Chart''' section, in the '''Resolution''' Interval text box, enter the price movement, in points, that is to trigger creation of the next bar.
# In the '''Resolution''' Unit drop-down list box select '''Point'''.
<br><div style="background-color: #E3FBE5;">'''Note:''' The maximum number of points that can be used to create a single bar is 2,000,000,000.</div>
Resolution of Point charts can also be set by one of the following methods:
* Click the '''Range Bar''' [[File:Resolution_Range.png]] icon on the '''Resolution''' toolbar; from the drop-down list select the number of points to be used for each bar;
* Click the down-arrow to the right of the '''Resolution''' [[File:Resolution_10.png|16px]] icon on the '''Command Line''' toolbar, then point to '''Range Bar''' and select the number of points to be used for each bar from the drop-down list;
* Enter the appropriate command into the Command Line toolbar combo box.
<br>
[[MultiCharts_Work_Area#Understanding_Command_Line|'''Click here''']] to find out how to use the Command Line.
<br>
===Selecting Point Chart Style===
Point bars can have any of the regular bars styles. See [[:Category:Chart_Style|'''this section''']] for more details.
===Point Original===
Point Original charts are not available from the chart settings, but it is possible to turn it on through [[MultiCharts_Work_Area#Understanding_Command_Line|Command Line]]. To do that type "1 orpt" into the Command Line field.<br>
One of the differences between Point Original and regular Point bars consists in the condition that has to be met for bar closing: <br>
''modulus |Open*PriceScale - Close*PriceScale| >= chart resolution''.<br>
Another difference is that a tick is not split between several bars, but is completely included in one bar, even if the price difference exceeds the chart resolution.
[[Category:Non-Standard Chart Types]]
