Point and Figure: Difference between revisions
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===Understanding Point and Figure Chart Type=== | ===Understanding Point and Figure Chart Type=== | ||
[[File:PFChart1.png|right|PF]] Point and Figure chart type is a chart that plots price movements without taking into consideration the time period. Point and figure charts are composed of a number of columns that consist of a series of stacked Xs or Os. A column of Xs is used to indicate a rising price, while Os represent a falling price. New Xs or Os are added to the chart once the price changes by more than a predefined amount. Once the price moves to the opposite direction by more than a predefined amount, a new column is plotted. | |||
Point and Figure chart type is a chart that plots price movements without taking into consideration the time period. Point and figure charts are composed of a number of columns that consist of a series of stacked Xs or Os. A column of Xs is used to indicate a rising price, while Os represent a falling price. New Xs or Os are added to the chart once the price changes by more than a predefined amount. Once the price moves to the opposite direction by more than a predefined amount, a new column is plotted. | |||
===Selecting Point and Figure Chart Type=== | ===Selecting Point and Figure Chart Type=== | ||
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# Open the '''Format Instrument''' window by one of the following methods: | # Open the '''Format Instrument''' window by one of the following methods: | ||
#:* Click the '''New Chart Window''' | #:* Click the '''New Chart Window''' [[File:New_Chart.png]] icon on the Main toolbar; or: | ||
#:* Use the '''Insert''' key on the keyboard; or: | #:* Use the '''Insert''' key on the keyboard; or: | ||
#:* In the main menu select '''File''', then point to '''New''' and click '''New Chart Window'''. | #:* In the main menu select '''File''', then point to '''New''' and click '''New Chart Window'''. | ||
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# Open the '''Format Instrument''' window by one of the following methods: | # Open the '''Format Instrument''' window by one of the following methods: | ||
#* Click the Format Instrument icon on the Chart Analysis toolbar; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button; or: | #* Click the Format Instrument icon on the Chart Analysis toolbar; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button; or: | ||
#* Position the mouse pointer over the symbol's data series; double-click once the '''Pointer''' | #* Position the mouse pointer over the symbol's data series; double-click once the '''Pointer''' [[File:Pointer.png]] changes into a '''Hand''' [[File:Hand.png]]; or: | ||
#* Position the mouse pointer over the symbol's data series; once the '''Pointer''' | #* Position the mouse pointer over the symbol's data series; once the '''Pointer''' [[File:Pointer.png]] changes into a '''Hand''' [[File:Hand.png]]f, right-click and then click '''Format''' 'Symbol Name'; or: | ||
#* Right-click on an empty area of the chart and then click '''Format Instrument'''; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button; or: | #* Right-click on an empty area of the chart and then click '''Format Instrument'''; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button; or: | ||
#* Select '''Format''' in the main menu and click '''Instrument'''; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button. | #* Select '''Format''' in the main menu and click '''Instrument'''; if the '''Format Objects''' window appears, select the symbol and click the '''Format''' button. |