[jeffh0821]

DbPhoenix,

Thanks, I did not look at the Daytrader's Bible but will peruse it. I have looked at the charts posted but I noted the regular line and candle charts with volume indicators are also on those charts.

I think my hangup is many PnF'ers are pure price action advocates. See support and resistance from price action only and trade accordingly. I am having a difficult time in my mind rationalizing that camp with the Wycoff camp.

Thanks for the insight...

[DbPhoenix]

Originally Posted by jeffh0821 »

I think my hangup is many PnF'ers are pure price action advocates. See support and resistance from price action only and trade accordingly. I am having a difficult time in my mind rationalizing that camp with the Wycoff camp.

Daily Vertical Charts are made to record the daily movements and volume of the averages, or groups or individual stocks. By the use of these charts, we are better able to discern accumulation, distribution and other phases of manipulative (controlled) or uncontrolled moves in the market. By condensing them into weekly and monthly vertical charts we are able to visualize the long time trend and to keep our perspective of the long range moves. However, the daily chart is most generally used because of its greater sensitivity and immediate historical value. In other words, weekly and monthly vertical charts aid us to judge the markets present position in relation to the general trend, that is, the major bull and bear cycles; but daily charts are more effective for timing commitments advantageously and for recognizing turning points.

Figure Charts are equally valuable, but it is best to use these in combination with vertical charts, so that all obtainable deductions may be made therefrom. Figure charts take no account of fractions, nor do they take account of time or volume. They represent the movement of a stock from one full figure to the next full figure above or below, such as from 35 to 36 or 34. They are of great value in estimating the probable extent of supply and demand and the points of resistance and support.

RDW

[fxshark]

does anybody have indicator P&F for TradeStation?

[Tams]

Originally Posted by fxshark »

does anybody have indicator P&F for TradeStation?

someone sent me this code.
I have never tried it tho.

// PnF EasyLanguage code
// This will simulate "Point & Figure" levels on a bar chart
{Written by Adam Hefner version 01-07-02}

Var: dbh(0), dbl(0), {Daily block high/low}
abh(0), abl(0), {actual block high/low}
dir(0), {direction}
sv(0); {stop value}

inputs: 
 BlockSize(1) , {Block Size}
 ReverseSize( 3), {Reverse Size}
 lookBack(-1) ; {look back period}

Var: 
 bs(BlockSize) ,
 rs(ReverseSize) ,
 lb(LookBack) ;

 {daily block high/low calculations}
If Round(high/bs, 0)*bs > High
 then dbh = (Round(high/ bs,0)*bs) -bs
 else dbh = Round(high/bs, 0)*bs;

If Round(Low/bs, 0)*bs < Low
then dbl = (Round(Low/bs, 0)*bs)+bs
else dbl = Round(Low/bs, 0)*bs;

If currentbar <= 1 {check for first 2 bars of the chart}
then 
begin
	dir = 1;
	abh = dbh;
	abl = dbl;
end
else 
begin
If dir[1] = 1 {direction up calculations}
then 
begin
	if dbh > abh[1]
	then
	abh = dbh {new high}
	else 
	begin
	If dbl <= abh-(bs*rs) {reverse}
	then 
	begin
		dir = -1;
		abh = abh[1];
		abl = dbl;
	end
	else
		abh = abh[1];
	end;
end
else 
begin {direction down calculations}
If dbl < abl[1]
then
	abl = dbl {new low}
else
	if dbh >= abl+(bs*rs) {reverse}
	then 
	begin
		dir = 1;
		abl = abl[1];
		abh = dbh;
	end
	else
		abl = abl[1];
	end;
end;
		
If dir = 1 {reversal stop}
then sv = abh-(bs*rs)
else sv = abl+(bs*rs);
	
plot1(abh);
plot2(abl);
plot3[lb](sv) ;

[fxshark]

Originally Posted by Tams »

someone sent me this code.
I have never tried it tho.

// PnF EasyLanguage code
// This will simulate "Point & Figure" levels on a bar chart
{Written by Adam Hefner version 01-07-02}

Var: dbh(0), dbl(0), {Daily block high/low}
abh(0), abl(0), {actual block high/low}
dir(0), {direction}
sv(0); {stop value}

inputs: 
 BlockSize(1) , {Block Size}
 ReverseSize( 3), {Reverse Size}
 lookBack(-1) ; {look back period}

Var: 
 bs(BlockSize) ,
 rs(ReverseSize) ,
 lb(LookBack) ;

 {daily block high/low calculations}
If Round(high/bs, 0)*bs > High
 then dbh = (Round(high/ bs,0)*bs) -bs
 else dbh = Round(high/bs, 0)*bs;

If Round(Low/bs, 0)*bs < Low
then dbl = (Round(Low/bs, 0)*bs)+bs
else dbl = Round(Low/bs, 0)*bs;

If currentbar <= 1 {check for first 2 bars of the chart}
then 
begin
	dir = 1;
	abh = dbh;
	abl = dbl;
end
else 
begin
If dir[1] = 1 {direction up calculations}
then 
begin
	if dbh > abh[1]
	then
	abh = dbh {new high}
	else 
	begin
	If dbl <= abh-(bs*rs) {reverse}
	then 
	begin
		dir = -1;
		abh = abh[1];
		abl = dbl;
	end
	else
		abh = abh[1];
	end;
end
else 
begin {direction down calculations}
If dbl < abl[1]
then
	abl = dbl {new low}
else
	if dbh >= abl+(bs*rs) {reverse}
	then 
	begin
		dir = 1;
		abl = abl[1];
		abh = dbh;
	end
	else
		abl = abl[1];
	end;
end;
		
If dir = 1 {reversal stop}
then sv = abh-(bs*rs)
else sv = abl+(bs*rs);
	
plot1(abh);
plot2(abl);
plot3[lb](sv) ;

Thanks I will try to make indicator ! )

[subq]

nice to see some P&F traders around, what software is everyone using?

I have developed quite a few of my own trading methods for day trading with P&F

[DbPhoenix]

While I welcome the participation, you guys do realize that you're in the Wyckoff Forum, right?

[fxshark]

Originally Posted by subq »

nice to see some P&F traders around, what software is everyone using?

I have developed quite a few of my own trading methods for day trading with P&F

Hi, can you post your methods here? A try to find P&F for TS....but I cant to find it..........Which software u use?