Point & Figure charts

[astrolobe]

I have posted about this problem before in the following thread http://www.ninjatrader.com/support/f...ight=astrolobe
Basically the NT P&F charts start new columns for the start of a new session. This is not correct as the chart becomes totally unreliable when trying to draw trend lines on a NT P&F chart. See my attached diagram which illustrates my point.

It does make a difference where the column is located on the x axis when you are drawing trend lines. I would appreciate it if NT could point me to just one P&F application out there that does the same thing. If all the other software packages are able to plot columns correctly, why does NT use the excuse that "Historical data can be different since each day a new starting point is used. Because of the different starting point, historical data can be different." (see post http://www.ninjatrader.com/support/f...3&postcount=10)

[NinjaTrader_Jason]

Hello astrolobe,

Unfortunately this is how our P&F charts function.

I will forward your feedback so P&F charts will not start new columns at the start of a new session to development. Thank you for your feedback.

[astrolobe]

Hi Jason,
I realise that this is how NT has implemented P&F, however you cannot call it P&F if it does not conform the the accepted P&F documentation out there.

The whole point of P&F charts is that they are NOT influenced by time. Starting a new column on a 1 minute P&F chart is irrelevant...all I want to see is price movement.

What is NT's response to drawing an accurate trend line as I laid out in post #1? You have not addressed this issue.

Can you imagine if NT implemented bar charts in the same way, ie, added space/columns between bars at irregular intervals. If that happened, then trend lines on bar charts would also become meaningless, as NT's trend lines would not look like the rest of the worlds, thus defeating the objective of technical analysis.

I do not see how you think NT can just implement P&F in its own little unique way and still think it is going to be useful to anyone.

Lastly, I brought this up in November 2010, and nothing has been done about it.

[NinjaTrader_Jason]

Unfortunately the lines will be unreliable because P&F charts start new columns each new session as you mention.

[NinjaTrader_Jason]

The suggestion is present on our list of possible future enhancements and is assigned to ID# 899.

You could use a weekly session (Base period type set to Week) with P&F bars, so you will only get one reset per week instead of every day.

[Horgo60]

Hi Jason, has this problem with P&F starting new columns with the start of each new timeframe been fixed yet?

[NinjaTrader_Jason]

Unfortunately not, the suggestion is still present on the list.

[Horgo60]

thanks Justin, is there any expected date of a new version release that may contain the fix?

[NinjaTrader_Jason]

Unfortunately there is no ETA if and when this suggestion will be supported.

[fmonera]

NinjaTrader implementation of Kagi charts are broken for the same reason too. They both add new columns at the start of a new session which is plainly wrong for charts that don't rely on time.

Current implementation of both Point and Figure and Kagi chart types on NinjaTrader are not only useless, but misleading. So money is lost by your customers due to this.

Please, this is a very serious problem. Take care of it.

[NinjaTrader_Jason]

Hello fmonera,

Thank you for your feedback. We have added your vote as per ID# 899.

[bbeville]

Hello,

I see this problem with P&F charts is extensively documented. What's the status of getting it corrected with NT 7?

Will the charts be drawn correctly in NT 8?

Thanks.

-Ben

[NinjaTrader_Jason]

Hello Ben,

Unfortunately, this will not change as per NinjaTrader 7. We are looking to support it in NinjaTrader 8 - P&F bars do not have a break between sessions, but plot continuously.

[bbeville]

Thanks, Jason.

The issue as you know is with 1-box reversal P&F charts. To my knowledge there's no literature to support NT's method of drawing them, so the analysis is distorted. If there's someone on your team who knows different, I would appreciate you pointing me to that reference so I can get smarter on it. Otherwise it really needs to be corrected.

Thanks again.

-Ben

[SodyTexas]

I have posted about this problem before in the following thread http://www.ninjatrader.com/support/f...ight=astrolobe
Basically the NT P&F charts start new columns for the start of a new session. This is not correct as the chart becomes totally unreliable when trying to draw trend lines on a NT P&F chart. See my attached diagram which illustrates my point.

It does make a difference where the column is located on the x axis when you are drawing trend lines. I would appreciate it if NT could point me to just one P&F application out there that does the same thing. If all the other software packages are able to plot columns correctly, why does NT use the excuse that "Historical data can be different since each day a new starting point is used. Because of the different starting point, historical data can be different." (see post http://www.ninjatrader.com/support/f...3&postcount=10)

https://www.bigmiketrading.com/local...=1&linkid=1619

This will fix the issues with Point and Figure not drawing correct!

Your welcome!

SodyTexas