Point and figure charts

[ahecker]

When creating a point and figure chart what is the "base period type" and why is it even an option when creating a point and figure chart?
Why are volume, minute, day etc. available to choose from since point and figure is based on tick movement and rotation?

What is the "base period value" and how is the tick setting for it affecting how the point and figure chart plots since the base tick value totally changes the look of the bars when you change the setting for it? What is that number changing about the look of the bars in the chart? What is it based on?

Thank you

[NinjaTrader_PatrickG]

The Base Period Type/Value will set the base from where the P&F boxes are built. A base is required in order to start calculating what boxes and columns would be created out of the underlying price action.

Please see the "Understanding Point and Figure bars" section of the link below for more detail:

http://ninjatrader.com/support/helpGuides/nt7/zordertype.htm?bar_types.htm

[ahecker]

point and figure

I'm sorry I do not understand what you are referring to. A base of what? Will it start the bars based on a 500 tick chart if that is the number I select or a 1 tick chart, or a 10000 tick chart? What is the correlation to the printing of the chart?
The help link you attached doesn't reference the base value only the box size and reversal.

[NinjaTrader_PatrickG]

The PnF chart will update the X and Os only as the underlying base period closes. So if it was a base period of 1min, the X and Os would update at the end of every single minute. Whether that means it draws a new X or O, starts a new column, or remains the same depends on what exactly was contained in that 1min bar.

When using a base of 1 tick, the historical P&F X/O's & columns are based off a 1 tick chart. A base of 10000 tick will build the historical X/O's and columns based off a 10000 tick chart.

[ahecker]

So does that mean if I want a pnf chart based solely on price movement and not on any underlying timeframe I would use a base period of 1 tick to have it print correctly tick by tick? Then set my box size to 1 and the reversal size based on need for the market I'm trading?
Thank you

[ahecker]

So does that mean if I want a pnf chart based solely on price movement and not on any underlying timeframe I would use a base period of 1 tick to have it print correctly tick by tick? Then set my box size to 1 and the reversal size based on need for the market I'm trading?
Thank you

[NinjaTrader_PatrickG]

That is correct - this would make it completely non-time based.