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other-tools:pnf-charts [2019/07/16 20:24] betseyp |
other-tools:pnf-charts [2022/10/31 14:52] (current) betseyp [Chart Attributes] |
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| Point and Figure Charts are charts that contain columns of X's and O's on a grid of square boxes. Columns of X's alternate with columns of O's. The X's represent a period of rising prices while the O's represent a period of falling prices. | Point and Figure Charts are charts that contain columns of X's and O's on a grid of square boxes. Columns of X's alternate with columns of O's. The X's represent a period of rising prices while the O's represent a period of falling prices. | ||
| - | For details on how P&F Charts are constructed and how they are interpreted, please see [[cs>chart_analysis:pnf_charts|our ChartSchool article on P&F Charting]]. | + | For details on how P&F Charts are constructed and how they are interpreted, please see [[https://school.stockcharts.com/doku.php?id=chart_analysis:pnf_charts|our ChartSchool article on P&F Charting]]. |
| Here is an example of a Point and Figure chart: | Here is an example of a Point and Figure chart: | ||
| {{:other-tools:pnf.png}} | {{:other-tools:pnf.png}} | ||
| - | In addition to the basic price quote at the top of the chart, this header area also lists any new P&F Patterns that appear on the chart. For more information on the P&F chart patterns that we automatically detect on our P&F charts, please see [[cs>chart_analysis:pnf_charts:pnf_alerts|our ChartSchool article on P&F Pattern Alerts]]. | + | In addition to the basic price quote at the top of the chart, this header area also lists any new P&F Patterns that appear on the chart. For more information on the P&F chart patterns that we automatically detect on our P&F charts, please see [[https://school.stockcharts.com/doku.php?id=chart_analysis:pnf_charts:pnf_alerts|our ChartSchool article on P&F Pattern Alerts]]. |
| - | The current Price Objective can also be shown in the header area at the top of the chart. P&F Price Objectives are often misunderstood and misused. **We recommend you learn more about how P&F Price Objectives are calculated and used correctly by studying [[cs>chart_analysis:pnf_charts:pnf_price_objectives|our ChartSchool article on Price Objectives]].** | + | The current Price Objective can also be shown in the header area at the top of the chart. P&F Price Objectives are often misunderstood and misused. **We recommend you learn more about how P&F Price Objectives are calculated and used correctly by studying [[https://school.stockcharts.com/doku.php?id=chart_analysis:pnf_charts:pnf_price_objectives|our ChartSchool article on Price Objectives]].** |
| ===== Creating P&F Charts ===== | ===== Creating P&F Charts ===== | ||
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| * **Scale Factor** - multiplies price data by the selected amount before creating the chart. | * **Scale Factor** - multiplies price data by the selected amount before creating the chart. | ||
| * **Color Columns** - colors up columns black and down columns red. | * **Color Columns** - colors up columns black and down columns red. | ||
| - | <box blue> **Note:** P&F Price Objectives (also called "P&F Counts") can be enabled using the "Price Objective" dropdown. Please note that Price Objectives are often misunderstood. Please read [[cs>chart_analysis:pnf_charts:pnf_price_objectives|our ChartSchool article on Price Objectives]] carefully before evaluating them. </box> | + | **Note:** P&F Price Objectives (also called "P&F Counts") can be enabled using the "Price Objective" dropdown. Please note that Price Objectives are often misunderstood. Please read [[https://school.stockcharts.com/doku.php?id=chart_analysis:pnf_charts:pnf_price_objectives|our ChartSchool article on Price Objectives]] carefully before evaluating them. |
| ==== Chart Scaling ==== | ==== Chart Scaling ==== | ||
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| {{:other-tools:pnfchartscaling.png}} | {{:other-tools:pnfchartscaling.png}} | ||
| - | The Chart Scaling section allows you to change the conditions which cause reversals on the P&F chart. (Please see our [[cs>chart_analysis:pnf_charts:pnf_scale_time|ChartSchool article on P&F Scaling and Timeframes]] for details on choosing these settings.) | + | The Chart Scaling section allows you to change the conditions which cause reversals on the P&F chart. (Please see our [[https://school.stockcharts.com/doku.php?id=chart_analysis:pnf_charts:pnf_scale_time|ChartSchool article on P&F Scaling and Timeframes]] for details on choosing these settings.) |
| The **Method** dropdown allows you to select the scaling method you want to use. Depending on the scaling method selected, one or more parameter boxes will appear to the right of the dropdown. | The **Method** dropdown allows you to select the scaling method you want to use. Depending on the scaling method selected, one or more parameter boxes will appear to the right of the dropdown. | ||
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| * **Percentage** scaling (also called logarithmic scaling) uses box sizes that are a fixed percentage of the stock's price. For example, if a chart used 5% scaling and the stock's price is $100, the box size for that part of the chart would be $5.00. Enter the desired percentage used for scaling in the Box Percent field. The default is 1.0 for 1%. | * **Percentage** scaling (also called logarithmic scaling) uses box sizes that are a fixed percentage of the stock's price. For example, if a chart used 5% scaling and the stock's price is $100, the box size for that part of the chart would be $5.00. Enter the desired percentage used for scaling in the Box Percent field. The default is 1.0 for 1%. | ||
| - | * **Dynamic (ATR)** scaling uses a box size determined by the daily [[cs>technical_indicators:average_true_range_atr|Average True Range]] value for the chart. This setting automatically creates an interesting-looking chart; however, because it is based on volatility, this setting can cause the chart to change significantly from one day to the next. Enter the number of periods to use for calculating the ATR in the ATR Period Field. The default value is 20 periods. | + | * **Dynamic (ATR)** scaling uses a box size determined by the daily [[https://school.stockcharts.com/doku.php?id=technical_indicators:average_true_range_atr|Average True Range]] value for the chart. This setting automatically creates an interesting-looking chart; however, because it is based on volatility, this setting can cause the chart to change significantly from one day to the next. Enter the number of periods to use for calculating the ATR in the ATR Period Field. The default value is 20 periods. |
| * **User-defined** scaling uses a fixed box size set by the user. Enter the desired box size in the Box Size field. The default is 1.0. | * **User-defined** scaling uses a fixed box size set by the user. Enter the desired box size in the Box Size field. The default is 1.0. | ||