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In P&F chart, For each price level, we should choose a suitable box size for it. Now I use metastock to read P&F chart but metastock only permit me choose only one type of box size for all price level. For example: if I choose box size is 2, all price level in P&F use box size 2, no matter the price level is 12000 or 12.

 

I am looking for a software which I can choose box size for each price level (excellent if It can set standard box size for each price level), Please kind tell existing the software like this or not. If it is existing please kindly tell me its name or share it with me.

 

Many many thanks for you help!

 

Bull's-Eye Broker is the one point and figure software I use, they have a very good means to define your own box size at different price levels. Like:

 

Price 0-10 use box size 0.5

Price 10-20 use box size 1

Price 20-40 use box size 2

 

or anything you can think of. Point and Figure charting software Bull's-Eye Broker

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Bull's-Eye Broker is the one point and figure software I use, they have a very good means to define your own box size at different price levels. Like:

 

Price 0-10 use box size 0.5

Price 10-20 use box size 1

Price 20-40 use box size 2

 

or anything you can think of. Point and Figure charting software Bull's-Eye Broker

 

Thanks PFtrader a lot!

 

it is software i am looking for

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in "The Complete Guide to Point-And-Figure Charting The New Science of an Old Art" book: I see the standard box size as bellow:

boxsize.png

 

for the 3 box reversal method, please tell me whether can i use the box size like this book told.

 

thanks you a lot

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in "The Complete Guide to Point-And-Figure Charting The New Science of an Old Art" book: I see the standard box size as bellow:

boxsize.png

 

for the 3 box reversal method, please tell me whether can i use the box size like this book told.

 

thanks you a lot

 

 

sorry i dont know why the picture dont show. i post another link

 

http://i1130.photobucket.com/albums/m535/vsaclubvn/Lee%20Thanh%20Hoaf/boxsize.png

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Firstly I am no P&F 'expert '(so take my comment with a pinch of sort) I do have a decent understanding of how and why you'd use P&F though.

 

I would guess the table is a 'rule of thumb'. Volatility is more important than the absolute value of the instrument (of course stuff that trades at 100 is going to have a wider range than stuff trades at 10).

 

As with all methods of sampling and displaying data it is more about what you want to 'capture' rather than a magic formula. What do you ne to see for the swings you are targeting.

 

For example on exactly the same instrument someone interested in capturing 5 point (just an example) swings that take an hour so to complete will use a different box size and reversal to someone wanting to capture 50 point swings (that might last 2 or 3 days) .

 

Fit the tool to task. You find a spanner to fit the bolt, you don't select a spanner and then go looking for a bolt that it fits.

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Wyckoff mention the method to count the price target. He use one point reversal Point&Figure but I still can not find out the guide to count in this course. Please kindly tell me which part guide count price target in this course

 

Thanks

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I've attached the count guide and here a link for more info.

 

Thanks Stock.Jock!

 

I take a look in your file, it is general count guide in Wyckoff method. My problem is how to use P&F to count target price following Wyckoff method ( one box reversal)

Edited by sharehunter

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is it true that wycoff doesn't really trade, and makes his money doing other things? is this a case of 'those who can't teach'? i apologize in advance if i offend anyone but its just a honest question. thanks - mslk

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is it true that wycoff doesn't really trade, and makes his money doing other things? is this a case of 'those who can't teach'? i apologize in advance if i offend anyone but its just a honest question. thanks - mslk

 

Hi Mslk!

 

there are so many good Authors are not Trader but their method is realy good ( may trader have good method but they use them to earn money and not ready to share with anyone).

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but if they don't trade the method, how do you know its a good method? theory is one thing but putting it to practice is totally another isn't it. is anyone here successfully trading using wyckoff? tia - mslk

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but if they don't trade the method, how do you know its a good method? theory is one thing but putting it to practice is totally another isn't it. is anyone here successfully trading using wyckoff? tia - mslk

 

Where do you know that Wyckoff dont use his method to trade. He use 8 years to learn and trade later following his method

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For those interested in software that will create PnF charts - I have been using NinjaTrader with success. You cannot input different box sizes at different price levels unless you code it yourself but the software is free until you trade live on it. You can get trials of live feeds with historical data (I got mine from Zen-Fire) so if you want to try PnF through time on the same instrument it is pretty easy to set up.

 

I have been using the Wyckoff Method and Market Profile to paper trade the S&P e-minis. I wonder if someone could give me some input on box sizes and reversal sizes. A tick on the ES is .25 points. There is a lot of volatility with the ES so my assumption is that a tick for a box size would be a big mistake. I have configured my chart for box size = 3 ticks and use both a 1 box and 3 box reversal. I'm not sure if there is a more precise way to filter out noise etc. I'm wondering if anyone looks at a 5 box reversal chart? All comments appreciated. Also if anyone successfully daytrades with these I'd like to hear about it.

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For those interested in software that will create PnF charts - I have been using NinjaTrader with success. You cannot input different box sizes at different price levels unless you code it yourself but the software is free until you trade live on it. You can get trials of live feeds with historical data (I got mine from Zen-Fire) so if you want to try PnF through time on the same instrument it is pretty easy to set up.

 

I have been using the Wyckoff Method and Market Profile to paper trade the S&P e-minis. I wonder if someone could give me some input on box sizes and reversal sizes. A tick on the ES is .25 points. There is a lot of volatility with the ES so my assumption is that a tick for a box size would be a big mistake. I have configured my chart for box size = 3 ticks and use both a 1 box and 3 box reversal. I'm not sure if there is a more precise way to filter out noise etc. I'm wondering if anyone looks at a 5 box reversal chart? All comments appreciated. Also if anyone successfully daytrades with these I'd like to hear about it.

 

Thanks for sharing.

can you post a chart?

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YertleTurtle,

 

Nice set of charts you posted. I'm interested in the PnF charts that you make on NinjaTrader. I downloaded and installed it and I linked it to TD Ameritrade for my data stream. I see in the chart properties that the box size and reversal can be changed, but I'd like to get it to plot the Wyckoff PnF chart. Do you know if this chart code can be edited? Is there an editor in the program for it?

Edited by Stock.Jock

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StockJock,

 

In NinjaTrader File-> New Chart then select the instrument you are interested in and hit New.

 

Under Period -> Type -> Point and Figure.

 

This should then open up Box Size and Reversal options.

 

I'm sure that PnF is native to NT 7 so make sure you downloaded 7. NT isn't intuitive and sometimes it just doesn't do what you want it to. There are also issues with data setup - some of their indicators only run on realtime data but this isn't true for PnF.

 

Also - even if you haven't purchased the software their support is pretty good. I switched from ThinkorSwim when I got interested in Wyckoff (thanks to your University) because they didn't have PnF but their software looks better and is much more intuitive. Let me know if I can be of any help.

 

Also - I'd recommend getting a free data trial from Zen-Fire as you can get historical data and download data for whatever instruments you are interested in as most of the data feeds don't support historical data.

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I know that Wyckoff using P&F chart to count the price target. it is deffirent from usual P&F count. He use one box reversal. but i dont know detail how to count. Please kindly tell me his way to count price target or give me document related.

 

Thanks

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Wyckoff used both 1 and 3 box reversal. In order to predict price move count the number of boxes across accumulation phase at a support/resistance level. Even if there is a gap during this phase this should also be counted. Take the count and multiply it by the box size. Take this result and multiply it by the reversal size (obviously if there is a 1 box reversal you don't need to do this). This is the approximate price move. Add or subtract this from the S/R level. Example:

 

5824004771_8cbf023dff.jpg

 

Note that this is a 3 box reversal chart and that all even columns would be better depicted as "O's". The number 50 here actually represent a price of 150. Wyckoff used both 1 and 3 box reversal charts and would calculate the price moves on both for confirmation. This estimation is meant as a rule of thumb and price will often move less or more.

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What is the best US software for backtesting and scanning stocks for point and figure patterns?

 

any backtesting software that can backtest in ticks.

 

if you are thinking about scanning thousands of stocks in real time... good luck. The limitation is more on the datafeed and hardware speed, not software.

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Hi, its been a while, I've kinda put this off, but just started reading again.

 

This is from Section 14M, page 8:

 

Suppose a stock were traded in at the rate of 2,000 shares a day for many days, within a range of 2 points. This would be merely a trader's market in that stock. But if it should break down through its former supporting line, and the volume should increase to 3,000 or 4,000 shares a day, this would be a relatively large change, indicating an increase in the supply sufficient to overcome the proportionately smaller demand. The volume of stock wanted by buyers may not have shrunk, but the increase in the quantity coming to market would be more than these buyers were able to absorb. So the price would decline, and the effect of its declining under these conditions would be to induce more people to sell, thereby adding to the supply.

 

Why wouldn't the price drop induce people to buy, when they see the lower prices as a bargain? How does this increase in volume differ from that of a selling climax? In both cases the price drops lower on large volume. But in a selling climax the recommendation is to go long. Where as in the paragraph above, it seems that Wyckoff is suggesting that prices will continue lower..

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