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Creating a Point and figure Chart
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Creating a Point and figure Chart
I am unable to construct a 3 tick point and figure chart with a 3 tick reversal.. all combinations i do, when it reverses prints three X's or 0's when it changes instead of for every three tick we get a bar and when it reverses three ticks, we get a bar... ??Tags: None
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Hello j_dangerously,
If a Point & Figure chart is set up with a 3-tick reversal it would not draw a bar in the opposing direction unless at least three X's or O's could be drawn, which would explain why the bar can never have less than three letters.
Taking the below settings, as an example...:
... you would then get a chart where each box is 4 ticks (1 point) in size, and the bar would reverse as soon as at least 4 ticks in the opposite direction occur (reversal = 1 box):
(I set the horizontal bars to be at a 1-point spread to visualize it more easily).
More information on how these bars are built and how the settings modify this may also be found in our HelpGuide at the following address:
Please don't hesitate to let me know, should you have any further questions!Manfred F.NinjaTrader Customer Service
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Hello j_dangerously,
The above settings would result in a chart where one X or O is 3 ticks, the chart would then reverse if at least 3 ticks (1 box) in the opposite direction occur.
Last but not least, the data itself would be based on a 1-tick chart, which means even if 3 sequential ticks happen in the same direction an X or O would be drawn.
Please don't hesitate to let me know if you have any further questions!Manfred F.NinjaTrader Customer Service
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i am trying to get the chart to draw a SINGLE box for ever three tick move and the when three ticks occur in the opposite direction, a SINGLE box is drawn.. NT is drawing sometimes one box and other times three boxes at a time..
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Hello j_dangerously,
The setting above would indeed be correct. I have also run this setup for about 30 minutes now to see if I spot more than one box appearing at a time and only noticed that on extremely volatile instruments that had rapid movement.
Please don't forget that a 1-tick resolution on a chart can result in a significant amount of updates. Taking the ES, as an example, 1,000 ticks occur about every 4-10 seconds, which means it's not uncommon to see 200+ ticks occur within a single second. On a chart with a 1-tick resolution, this can lead to more than one box being drawn when the chart updates (every 1/4th of a second).
If you have noticed more than one box appearing at a time even on a less volatile instrument or with a higher tick-resolution, please let me know which instrument and time (including timezone) this occurred, if possible with a screenshot.
Thank you in advance!Manfred F.NinjaTrader Customer Service
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