Point and figure chart analysis...!

[boarders]

Hi Boarders,
Yes, I got your point, there is no doubt in my mind that pnf based on tick by tick chart is the purest form of pnf chart...But we should be able to maintain such a large data base...it will further enhance difficulties if we trade more instruments...
I have tried tick chart with e Signal data and Updata trader Pro...It's look and feel will be entirely different from the plots what we are following with 1M data set provided our chart is based on Close series...but not much of a difference when chart is based on HL with box size and reversal size are larger multiples like 60 ticks(3) and 3 box reversal size it won't make much difference...(As in the NF chart)(NF 1tick is 5paise)
It will surely make difference when box size is multiples of 5 ticks or less(5 point) and reversal size 2 ...Crude 1tick is 1Rupee..(As in the Crude M chart posted by you the other day)
That is my point of view....
Pnf based on tick is preferred and superior to the type we are currently using...but we are compromising due to lack of logistics and for convenience to avoid maintaining large data bases...
Please see post no:74 and post your view on my query...
Thanks in advance,
Regards,
praveen

please note past data of any timeframe can be used for backfill as those events has already happened and the outcome known and values not going to change anymore. but the chart still must be kept on 1 tick frame while viewing and positional trades can also be taken on such chart analysis. on the other hand if using for intraday trades with realtime data...then 1 tick is a must. in fact 1 tick mode is a must for eod as well as intraday. please also note that by keeping 1 tick frame, we are telling the charting software to record and reflect all changes for every trade which happens. multiple trades could happen in 1 second and also no trades may happen for 20 seconds, but whenever a trade happens the chart will reflect that by keeping 1 tick and will not restrict pnf plotting in any form.

I bought amibroker professional from trading analysis dot co dot in some 8 years back and have licence upto 5.6 version for lifetime, for higher versions I have to buy again which is not required for me. so i am using 5.6 version.

the afl which i am using depends on a dll developed by a software friend of mine who is also trading and it is hardware locked and will work only on my trading computer, so cannot share. in case of a breakdown of my computer I have to approach him again for getting it setup on the repaired computer.

 

[boarders]

Hi Boarders, where is your crude chart? how you backfill when your system intrupted or when you not trading? Odin supports same day's tick backfill using Amaadamisoftware or some other utility, plz say something about your experience.

I deleted it for want of space.

for backfill i use the Nest vwap 1 minute statistics, save it as csv file and then import into ami using import wizard. please note in spite of using 1 min data to backfill, my chart frame is still kept on 1 tick mode as explained in my above post.

I actually use renko chart for exits but compare pnf chart side by side before deciding on entry point. this is because in pnf chart whenever trend continues the trailing stop doesnt move and in case there is a "V" shaped reversal all profits disappear and end in loss, so for entries I use breakout/down of pnf chart and then exit the trade by using renko chart trailing stop but keeping the the renko box and reversal, same as pnf.

trading havent made me a millionaire, but i get by. this is also because of my aversion to taking huge stakes, i still trade crude mini and nickel mini, so my psychology is also to be blamed. also in my experiance 3 continuous sl hits will wipe out profits made earlier in one trending trade and when this happens, i have trouble in pulling the trigger in the 4th trade and that trade will sureshot be a huge winner and i am at the sideline only watching, so its like inside woody allen.

I have also noticed that my positional trades are always mostly huge winners, but for last one month i am doing intraday only because both nickelm and crudem are in a tight range and hitting stops both ways in positional.

 

[praveen98]

Hi Guys,
Here is the NF 1M chart for the day....As the Nifty is dealing with very important resistance...it will slow down and moving sideways..

 

[praveen98]

please note past data of any timeframe can be used for backfill as those events has already happened and the outcome known and values not going to change anymore. but the chart still must be kept on 1 tick frame while viewing and positional trades can also be taken on such chart analysis. on the other hand if using for intraday trades with realtime data...then 1 tick is a must. in fact 1 tick mode is a must for eod as well as intraday. please also note that by keeping 1 tick frame, we are telling the charting software to record and reflect all changes for every trade which happens. multiple trades could happen in 1 second and also no trades may happen for 20 seconds, but whenever a trade happens the chart will reflect that by keeping 1 tick and will not restrict pnf plotting in any form.

I bought amibroker professional from trading analysis dot co dot in some 8 years back and have licence upto 5.6 version for lifetime, for higher versions I have to buy again which is not required for me. so i am using 5.6 version.

the afl which i am using depends on a dll developed by a software friend of mine who is also trading and it is hardware locked and will work only on my trading computer, so cannot share. in case of a breakdown of my computer I have to approach him again for getting it setup on the repaired computer.

Hi boarders,
The work around for tick data storage suggested by you is very good...I will also try this out...
Regards,
praveen

 

[nifty trade]

ok subscribing


good work thanks

 

[praveen98]

Hi Guys,
Hope you had a great trading day....Here is the NF 1M 3X3 HL

Have a nice weekend:clap:
praveen

 

[praveen98]

Hi Guys,
Hope every body enjoying the weekend...Let us learn about a formation called bearish catapult on NIFTY SPOT Long term chart....
Nifty took support around 8000 spot levels twice and violated the bottom third time forming a Triple bottom sell,making a fresh low @7800 falling further to a lower level of 7600 and now it rallied back to 8200 levels...You can see from the chart that there is bearish resistance@8200-8400 zone. Suppose if NIFTY turns back into a supply column and violates previous bottom(7600)making a fresh low @7400 makes the formation complete which is triple bottom break down followed by a double bottom sell is called BEARISH CATAPULT...formation....whether nifty will make the formation complete(hopefully it won't complete this formation) but there is a probability...
Bearish catapults usually leads to accelerated falls...and may lead to retesting of 6600 to 6800 zone...

 

[praveen98]

Hi Guys,
Today's action in NF chart

 

[wisp]

Hi Guys,
Today's action in NF chart

Praveen,

Pleasle post P&F Chart for Nifty for the 5th of Nov. What box size do you use for intraday?

 

[praveen98]

Praveen,

Pleasle post P&F Chart for Nifty for the 5th of Nov. What box size do you use for intraday?

Hi Wisp,
Sorry for replying late...I don't have NF data for 5th NOV....From NOV series i am solely concentrating on BNF only....i used to trade with box size of 5 and reversal size 3, you can use lower or higher box size and reversal size depending upon your need, personality and risk tolerance, if you have fast reflexes you can trade 3X3 or 2X3 also....
If you got data of NF 5th NOV in csv or excel format...Please download the free excel pnf tool from the following link and you can copy&paste the data in sheet 2 you can draw chart of your preferred box size and reversal size....
You can try different box sizes and reversal sizes and customize your own pnf chart...Here is the link to download free excel pnf tool...

http://niftypointandfigure.blogspot...-max=2014-01-01T00:00:00+05:30&max-results=37

All the Best:thumb: