5 minute point and figure anomaly

[gdavis74]

Charting the SPY ETF. Point and figure chart box size 1, reversal size 3.

Today at 12:07pm, SPY hit a low of 182.63.

Why doesn't the point and figure chart show this low value?

Attaching image of the P&F chart

[NinjaTrader_JC]

Hello gdavis74,

This is due to the PointAndFigure bars being built based solely on price movement with no regard to time or volume. It is not going to account for the Highs and Lows it will only take into account the Open and Close values based on the 5 Minute Data to build the bars.

Here is a link to our Help Guide that has a more detailed description and examples of our Bar Types that you may view.

http://www.ninjatrader.com/support/helpGuides/nt7/bar_types.htm

[gdavis74]

Got it, thanks!