Point & Figure charting software?

[sandra]

Anybody have any thoughts on Point and Figure charting software?
New to Point&Figure so knowledge is very limited.
Have read Point&Figure by Thomas J Dorsey,
Wiley trading Encyclopedia of chart patterns,which I think may be helpful in spotting trends,
Am in the process of reading Jeremy du Plessis the definitive guide.

After all this reading I am now looking to purchase charting software but it must be based around Point&Figure,I have no problem with paying for software also understand you get what you pay for.

The software will be used mainly for testing with small amounts of trading on proven patterns until one becomes competent.

Have looked at Du Plessis own Updata, Price to high for my usage at present, Anybody use Point&Figure or do you know of software that would be suitable

 

[Wysiwyg]

Hello, there is a thread located here and the most experienced poster on this forum is "motorway".Good luck.

Wysiwyg.

-- also the advanced search function at the top of this page is helpful in finding topics of interest.Good luck.

 

[sandra]

Thank you for you're promt reply Wysiwyg,also the direction to the Thread.

 

[Timmy]

Have to second Wysiwyg, Motorway's posts on PF are second to none. There are a lot of his posts on individual stock threads too, worth searching for.

Software - I use Investor R/T for P&F charts, I cannot fault it.

 

[nomore4s]

I use bulls-eye broker for P&F charting - not too bad and also well priced. Will need to source data as well.

http://www.archeranalysis.com/beb/index.html

 

[Gringotts Bank]

Anyone been able to backtest the P&F appraoch?

 

[Garpal Gumnut]

I have an old version of Metastock which does p and f

gg

 

[tech/a]

Anyone been able to backtest the P&F appraoch?

You can't
It's a cutting type.
Analysis I around patterns.
It is dependent on box size.

I have Metastock as well.

 

[Country Lad]

Anybody use Point&Figure

Yep, have been using it for 30 years, started by hand drawing before software was even thought of. I find it hugely successful for specific patterns or when used in conjunction with some other indicators.

..............with small amounts of trading on proven patterns until one becomes competent.

Good idea, it does take a fair bit of experience to understand how the prices move from various patterns and how these are reinforced by other indicators or price/market/volume movement.

...........or do you know of software that would be suitable

I have looked at various software over the years. I tried Bull's-Eye a couple of times some years ago and was disappointed - may have improved since. I use Metastock.

..............It is dependent on box size.

Spot on. I have seen people try to make patterns by stuffing around with box sizes which is the opposite to doing it successfully. The box size has to be consistent for particular price ranges.

Cheers
Country Lad

 

[tech/a]

Hand charting

I remember a guy at the Adelaide ATAA
Who plotted the All Ords for 20 years
It was over 20 feet long.

Never did see the point of it.

 

[Gringotts Bank]

Sorry forgot to check back in on this thread.

Surely something simple like a double or triple top can be backtested?

When the DT or TT appears, it creates a coloured candle on the normal time chart and you trade off that.

 

[notting]

It was over 20 feet long.

LOL