LonesomeTheBlue

Point and Figure Chart - Live

Hello Traders,

This is "Point and Figure Chart ( PnF )" script that run in separated window in real time. The separated PnF chart window is timeless, so no relation with the time on the chart. PnF chart consist of "X" and "O" columns. While "X" columns represents rising prices, "O" column represents a falling price. If you have no idea about what PnF charting is then you should search for "Point and Figure Charting" on the net and get some info before using this script.

Now lets talk about details. PnF Chart requires at least two variables to be set => Box size and Reversal. Box size represents the size of each X/O in PnF chart and the reversal is used to calculate new X/O or reversal. for example if currrent column is X column then for new "X", "box size * 1" move is needed and for new "O" column or reversal, "box size * revelsal" move is needed. in the script I use lines as X/O columns.

In the options you can set "Box Size Assingment Method". you have 3 options Traditional, ATR, Percentage. what are they?
Traditional: user-defined box size, means you can set the box size as you wish, using the option . if you use this option then you should set it accordingly.
ATR: that's dynamic box size scaling and on each columns it's calculated once, you can set length for ATR
Percentage: that's also dynamic box size scaling according to closing price when new column appeared. if you use this option then you should set it accordingly.

Reversal: The reversal is typically 3 but you can change it as you wish

"Change Bar Color by PnF Trend": if you enable this option then bar color changes by PnF columns, by default it's not enabled
"Change Column Color When Breakout Occurs": PnF color changes if Double Top /Bottom breakout accours. enabled by default and you can set the colors as you wish using the options
"Change Bar Color When Breakout Occurs": bar colors changed if Double Top /Bottom breakout accours. enabled by default and you can set the colors as you wish using the options

the script checks only Double Top /Bottom breakouts at the moment. there are many other breakouts such Triple/Quadruple, Ascending/Descending Triple Top/Bottom breakouts, Catapult etc.

Also the script shows new X/O level and reversal Levels in PnF window. An example:

If you enable "Change Bar Color by PnF Trend" option:

An example if you disable the option "Change Column Color When Breakout Occurs


You may want to see my another/older "Point and Point Chart" script as well. you can find it in my profile/published scripts and in the Public Library. I use same PnF calculation algorithm in both scripts.


Enjoy!

Notes de version: .
Notes de version: typo fixed

Script open-source

Dans le véritable esprit de TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par le règlement. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.

Vous voulez utiliser ce script sur un graphique ?