Very well explained. What timeframe do you use for these charts (i know, P&F doesn't care time but these days when we use online charts (not hand made), we need to select one)?
@@rogerbalser3755 He already said that in his comment.. but I second his question. On all platforms I've come across, the chart requires me to enter a time frame for some reason. The time frame I choose heavily affects what the P&F chart looks like and I cannot figure our why or how this is the case.
@@deer6413 you are right, it maters and makes a difference how the chart gets dispalyed. Another thing you have to think about is to choose closingprice or open-high-low -close. In this video I think Tom uses closingprice and daily updating, but it could also be 4 hours , anyway he uses something slow. If you have point figure platform you can try 1 min or 5 min open high low close for daytrading. Try different boxsize, bigger size gives more reliable chart. For longer term try to keep the same settings but change the boxsize to bigger and choose between 1 h 4 h or daily.
@@deer6413 that depends on the platform. For futures trading, you don't need to put any time frame, only the box size in ticks and the box reversal. I'm using Sierra Chart and I know that Ninja Trader uses the same calculation. That's because those platforms use tick data. For Trading View and other free platforms which use time filtered data, it will ask you to enter a time value. This is because it will evaluate the high and low of each candlestick (or close, depending on the calculation method you've selected) and translate it into PnF. Check the stockcharts PnF charts, they are amazing. You'll see that horizontal counts are almost never automatized in any platform. That's because you'll still need to interpret the charts and do those calculations by hand.
Wow! It’s goldmine of knowledge
This is better than gold! Thank you!
Did Tom ever have anything but white hair? Very cool for sharing this, just came up on my recommended list.
Yep.
Thanks for posting! It’s a treat!
My pleasure
Thanks a lot for this video!!! 😁 It would be cool if you could keep posting videos from tom.
Goodness. Such a treasure is hidden. Thanks for sharing such a valuable piece of information bro 👍✨
Very well explained. What timeframe do you use for these charts (i know, P&F doesn't care time but these days when we use online charts (not hand made), we need to select one)?
P&F doesn't use time
@@rogerbalser3755 He already said that in his comment.. but I second his question. On all platforms I've come across, the chart requires me to enter a time frame for some reason. The time frame I choose heavily affects what the P&F chart looks like and I cannot figure our why or how this is the case.
@@deer6413 you are right, it maters and makes a difference how the chart gets dispalyed. Another thing you have to think about is to choose closingprice or open-high-low -close. In this video I think Tom uses closingprice and daily updating, but it could also be 4 hours , anyway he uses something slow.
If you have point figure platform you can try 1 min or 5 min open high low close for daytrading. Try different boxsize, bigger size gives more reliable chart.
For longer term try to keep the same settings but change the boxsize to bigger and choose between 1 h 4 h or daily.
@@deer6413 If you did it with graph paper, all the squares would stay the same.
@@deer6413 that depends on the platform. For futures trading, you don't need to put any time frame, only the box size in ticks and the box reversal. I'm using Sierra Chart and I know that Ninja Trader uses the same calculation. That's because those platforms use tick data. For Trading View and other free platforms which use time filtered data, it will ask you to enter a time value. This is because it will evaluate the high and low of each candlestick (or close, depending on the calculation method you've selected) and translate it into PnF. Check the stockcharts PnF charts, they are amazing. You'll see that horizontal counts are almost never automatized in any platform. That's because you'll still need to interpret the charts and do those calculations by hand.
Best video on this subject. But the worst video quality. I wish you made a new video. Thanks for making this so easy to understand.
Incredible thank you
My pleasure.
BRILLIANT !!
Thank you!
Excellent!
just come here to watch him do the catapult motion
31:00
this is my Bible for stocks
Which book is written by him on technical anyalsis
Point and Figure Charting.
what world have i stumbled into
what world have i stumbled into