Wyckoff PnF Charts

[Rsarell]

NinjaTrader 8 has an excellent PnF chart display but I was wondering if it can be set to do the PnF calculation the way that Wyckoff method recommends. Is there a setting somewhere or would I have to get a 3rd part add-on or code it in NinjaScript.

[NinjaTrader_RileyS]

Hello Rsarell, thanks for your feedback!

I would just need a little bit more clarification as of what you would like to add. Could you please provide a concise explanation of how you would want the Wyckoff PnF chart setup? What exact features would be added?

[Rsarell]

Thank-you for the response.

What I'm looking for only relates to the chart display of the 1-Box reversal chart in Point and Figure.

For example, if you are plotting a column of X's and the price reverses by one box, you move across to the next column to plot the O. If the price then rises again without first falling, you plot an X, but you do not need to move to another column to do this, there is room above the O in the second column. Essentially, you get an X and an O in the same column.

The technical term is called the one-step-back in 1-Box reversal charts.

Attached is a picture of the Wyckoff method for 1-Box reversal charts.

Thanks

[NinjaTrader_RileyS]

Hello, thank you for your feedback and for clarifying!

This would take custom programming to accomplish. There is not currently a setting for the Wyckoff method in NT8 however this may be possible with custom code.

I'm not aware of script that would have this. If you write in and request our business development team, we could assist with finding either a NinjaScript consultant or a vendor who could provide this.

You would just need to send a request to platformsupport[at]ninjatrader[dot]com - in the body of the email, request our business development team with a note that states that you would like to know of a NinjaScript consultant or a 3rd party vendor that could provide a Wyckoff method for a PnF chart and I would also advise that you attach the above screen shot too for a clear explanation.

Considering that this not already available in NinjaTrader, I will submit a feature request and will update you when I have a unique ID. If you have friends, colleagues, or others who would like this feature added, please lead them to this post which they can post and add votes to this item.

[oxoxox]

Hi, what Rsarell is talking about is the proper way to construct a 1x point and figure chart. The way that Ninja Trader 8 Beta is constructing this type of chart is not quite right. May people do use this style of PnF chart that Ninja trader is currently made available and I would keep that option available, but the Wyckoff style if a 1x point and figure chart is a little different.When the market reverses, you can have both an x and o in the same column. Here is an explanation from a very popular blog on stock charts.

http://stockcharts.com/articles/wyckoff/2016/01/intro-to-point-and-figure-construction.html

Also this method is taught at Golden Gate university by Hank Pruden:
here is his book;

http://www.amazon.com/Three-Skills-Top-Trading-Recognition-ebook/dp/B004J4VVTC/ref=sr_1_1?s=books&ie=UTF8&qid=1455768649&sr=1-1&keywords=hank+pruden

And finally here is the best book ever written on the subject of point and figure charts. It is by Jeremy DuPlessis.

http://www.amazon.com/Definitive-Guide-Point-Figure-Comprehensive/dp/0857192450/ref=sr_1_2?s=books&ie=UTF8&qid=1455768808&sr=1-2&keywords=point+and+figure+charting

I am an expert on this type of charting.I worked very closely with CQG to implement their P&F package. It was very exciting and it is pretty close to perfect. FYI I am a Pro Trader for the last 25 + years and was a member of the CME trading on the floor then after migrating upstairs and trading on the screen became a partner in a prop.shop in Chicago. I currently a private trader trading my own account.This is a very important piece of the trading puzzle as it is used by many tape readers. Please contact me if you have any questions.

Regards
W.Fenton Costelloe

[NinjaTrader_RileyS]

Hello oxoxox, this is great feedback. I will add this information to this feature request and add a vote to it too.

I don't have the unique ID to this feature as of yet, but once I do, I'll update this thread.

[NinjaTrader_RileyS]

Hello All, the feature request ID to this item is SFT-652.

[supermht]

hi, I am wondering if you have put wyckoff style PF chart into NT8? thanks

[NinjaTrader_RileyS]

supermht, thank you for your post!

This feature has yet to be added in NinjaTrader 8. I have added a vote to SFT-652 on your behalf to have this Wyckoff PnF style added.

[josef]

Please add my vote for this feature.

[NinjaTrader_RileyS]

josef, thank you for posting and I have added your vote!

[soulfx]

Please add my vote for this feature too

[NinjaTrader_RileyS]

soulfx,

I have added your vote as well!

[The_Wiz]

Please add my vote for this feature.

[NinjaTrader_RileyS]

The_Wiz, I've added your vote!