PnF (point and figure) charts questions

[TraderGreen]

Hello,

I'm wondering if the settings I'm using for PnF charts are correct, because the "base period type" and "base period value" are throwing me off. I'm not sure if these settings are also the reason price doesn't seem to be tracking on price change.

I want my chart to basically ignore the base periods, so I am using a "type" of tick and a "value" of 1. Does that get me as close as I'm going to get to a pure point and figure chart? Not real clear on why the "bases" are an option and what I've read on it really makes no sense. My understanding is PnF charts are all about price and reversals of price, so not sure why time would be a factor in that.

I also noticed that on the PnF charts that only the price marker moves with price and not the bar itself. I'm using OHLC and in other platforms, the close tab will move with price, but not in NT. To try to work around this I added a 1 EMA (set as a dot and tried both "on each tick" and "on price change"), but even the EMA doesn't move with price. Actually, the bar will move when hitting new highs or lows for that bar (to be expected), but will not show any price movement while inside the bar.

I get why the bar itself would not change as obviously the range of the bar is the most important factor, but is there a way, using a OHLC, to get the close tab to move with price?

Thanks

[NinjaTrader_ChristianN]

Hello,

Thanks for the note.

Please refer to this help guide on the Point and Figure chart style and this help guide on the Point and Figure bar type as they are designed to work in conjunction with each other.