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If it helps I will offer a bit more explanation
The majority of reading I have done has the PF charts based on Highs and
Lows of the price bars. This I believe is what is in Dorsey's book. I have
created this in a PF chart and posted to the files section. In most of the
texts eg Dorsey they have also used a variable box size for different price
ranges. This was not as easy to do within the confines of Ab as it stands. I
did attempt this in the PF codes in the file with "Vbox" in the file name.
Unfortunately I could only break this down into ticks, which may not
correspond to the US price tick sizes. The ASX does have its own system of
minimum tick sizes. The Y axis is then in number of boxes which I then
converted back to actual price to display in the title block of the chart.
Perhaps if someone could provide the ticks for US market I could try to
re-create this in a similar PF chart. If they are consistent minimum tick
changes then it may prove relatively easy.
I did have a look at the program Bulls Eye Broker which specialises in P&F
charts and they have various methods of creating the P&F and sizing of
boxes.
Basically I created a few different PF charts for various reasons and uses
as I investigated them, mostly for my own use and benefit :)
I am willing to help if possible to make it usable for anyone if the changes
are simple. I just need the direction on what is required.
Cheers,
Graham
http://groups.msn.com/ASXShareTrading
http://groups.msn.com/FMSAustralia
-----Original Message-----
From: mroman59 [mailto:mroman59@xxxxxxxxx]
Sent: Tuesday, 17 June 2003 8:45 AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: [amibroker] To Graham Kavanagh
Thanks for responding to my email and taking the time to explain
your P&F. It will take me some time to digest the information
concerning your ploting of X's and O's by looking at some examples,
since I am new to P&F.
I did notice on some charts that there was a lot of space to the let
of the plotting, which I could not figure out why. I must say even
though I have not used P&F yet for trading, I have read a little
about how the x's and o's are derived and have looked at several
charting examples. But I must say that I have never seen any
plotted like yours with empty space to the left. For example, all
data starts to the left and there is no empty spaces. The last plot
of either X's or O's will correspond with a given date, however, the
last date ploted may be several days back from the current date. So,
essentially it looks like there is empty space to the right, but the
movement in the stock price has not warranted a new column to be
constructed or if the last set of X's or O's correspond with the
current EOD date, their may be missing data for days before it
because the price movement did not warrant any new column for that
day. At least that is my observation when I look at these charts.
Basically it all has to do with what is called eliminating noise, as
you all ready know.
Being American and reading English, I guess I am use to reading from
left to right and when I saw the empty space to the letf I thought
something was not right.
I referred you to www.jcharts.com, because the webmanager of the
website stated that the programmer used Dorsey's book to construct
the charts. I know you mentioned that you did not want to comment on
someone elses work, but I was only suggesting it to you to see, what
I think is usual representation of P&F, not that his program or data
are correct. If you have some time don't mind looking the
instructions are as follows:
1. www.jcharts.com
2. click on members (no member ID required)
3. top left hand side enter desired ticker in ticker box just below
Home, click on Get Chart or you can run a screen on right hand side.
4. Chart will be in bar type style by default, therefore use
dropdown dialog box and choose desired chart sytle - P&F.
Currently I think they may be having some technical difficultiy
right now, so you may wish to try it at a later time.
I will use the information you gave me and try to follow.
Thanks
MR
--- In amibroker@xxxxxxxxxxxxxxx, "Graham" <gkavanagh@xxxx> wrote:
> MR
> The P&F chart will only create a new box when the price moves
sufficiently.
> That is the base of all P&F charts. It will only change daily if
the price
> moves to beyond the next box, or if in reverse direction.
> Due to the way it has to be constructed in AB using the default
time fram
> windows the columns are created from the last day backwards. The
chart is
> not backwards, just it plots in the right hand end of the overall
chart
> window. There will be a lot of empty spaces to the left of the
first X/O
> column. So with every change of direction the existing columns all
move one
> columne to the left to make room for the new move. They will also
keep
> moving with each new day to the right. Hope this makes sense.
Perhaps if I
> use numbers. The normal bar chart contains 1,000 days. The PF
chart for
> this, might only have 100 columns. These will appear in days 901-
1000 of the
> window pane. 1-900 will be empty. So after another trading day we
have 1001
> bars (1-1001), and if no change to the PF it will appear in the
902-1001 bar
> spaces. If it had a new column started in the last trading day the
PF chart
> will fill 901-1001 column spaces. Is this what you mean? Basically
> with P&F you totally forget about the time, it is purely
a means
> to space the columns of X and O's.
> Hope this answers you
> Just a note, I had originally only meant to post one PF chart
formula, so I
> never bothered with any revisions at first. But then I did post
more and so
> it all got confused. I did try to start revsion histroy, but got
too lazy.
> I have tried to remove the ones from yahoo group, but it seems I
changed the
> login I used and cannot do anything about the older versions
(forgot the
> earlier login) Don't know if I can remove or change those in AB
website to
> make certain latest revisions, plus AB version required is
included.
>
> Regards Dorsey, I don't think I am that far from what he had. I
did post
> some website references in an email to the yahoo group recently
that I have
> used as references.
> I will try to make alterations to my PF codes and replace those I
have
> already uploaded that are out of date etc. also maintaining the
version
> revsion for last official AB release (4.30) If I can that is
>
>
> Cheers,
> Graham
> http://groups.msn.com/ASXShareTrading
> http://groups.msn.com/FMSAustralia
>
>
> -----Original Message-----
> From: mroman59 [mailto:mroman59@x...]
> Sent: Monday, 16 June 2003 9:13 PM
> To: amibroker@xxxxxxxxxxxxxxx
> Subject: [amibroker] to Graham Kavanagh
>
>
> Hello Graham
>
> Dowloaded P&F formula from AB website, but not the beta version. I
> assume that they provide the same results upon analysis for given
> stock or index, regardless of the change. Correct me if I am
wrong.
>
> I am new to P&F and trying to understand how to read it.
>
> Noticed your posts with regard to P&F and other users of this
Group
> and get the impression that you do not use the method out of Tom
> Dorsey's book "Point and Figure Charting, which seems to be the
most
> popular name when it comes to this indicator. Correct me if I am
> wrong.
>
> I am more interested in being able to understand your method or
> modify your version to fit Dorsey's.
>
> Could you tell me when you programmed your version, it you use a
> certain book for your method of P&F or are they all pretty much
the
> same. One thing I have noticed with regard to your program is
that
> it records X's and O's on a daily basis, while others I view do
not,
> which means the system filters out the noise, so you will not find
a
> change in the charting unless their is price movement to warrant
> this change in the X and O pattern.
>
> Sorry, I don't full understand P&F yet, but I am in the process
and
> would like to be able to look at these charts in AB to start to
> undersand how to use it properly. Please let me know if there is
a
> minor or major difference between you settings and Dorsey's if you
> are familiar with his work.
>
> Thank You
> MR
>
>
>
>
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