Point and Figure One-Step-Back Rule

[mikhailov_ruslan]

Hello,

I've been searching whether or not one-step-back rule was implemented in Point and Figure charts but didn't find anything. I saw several threads dated back to 2013 about this issue and I wonder whether or not it was solved. If it is solved how can I turn it on?

Best regards,
Ruslan

[NinjaTrader_ChelseaB]

Hi Ruslan,

I am not familiar with the one-step-back rule.
How does this work with a point-and-figure bar?

[mikhailov_ruslan]

Hi Chelsea,
When you have only one box in the opposite direction new column is built right at the top or a bottom of the current column. What I mean there should never be one O or one X in a column. There should be either 2 or more X's, 2 or more O's or X and O. These are the three options. And as you can see on the chart below there are columns with just 1 O or X. These issue was discussed here as well:

http://ninjatrader.com/support/forum/showthread.php?t=60427&page=2

I also would like to ask a question about how the session breaks display on the P&F charts. I started to trade Soybeans but these breaks (move to a new column with a market open) make it just impossible to use P&F there... I know that this problem was also considered by support. Has this one found a solution?

Best regards,
Ruslan

[NinjaTrader_ChelseaB]

Hello mikhailov_ruslan,

I can confirm that the requested changes from the link you have provided have not been implemented.

With the session break and point and figure charts, yes, in NinjaTrader 8 it is now possible to have the point and figure bars ignore session break with a check box in the data series window.

[mikhailov_ruslan]

Okay, that is a good news about session breaks. But what about about 1-step-back rule? Is it included in the "to-do-list". Or at least considered to be included?

[NinjaTrader_ChelseaB]

Hello mikhailov_ruslan,

The one-step-back request is in our system and being tracked with ID SFT-652. Your vote has been added toward this.

[oxoxox]

The one step back rule is officially known as the Wyckoff style of doing a 1x point and figure chart. is is the way things must be if one is going to use point and figure charts correctly. Please see Jeremy DuPlesisis books on the subject.

[davem111]

Hi Chelsea

I too would be very happy to see the one-step-back type of point and figure charts for NinjaTrader. I definitely want to use this in my trading, and would much prefer not to use another source. Please add my vote.
Thanks!

[davem111]

Hi again Chelsea

One more thing -- I am currently taking a webinar by Dr. Gary Dayton re the one-step-back
P&F charting, and have sent a request to him to point anyone who may have the same problem to NinjaTrader. Hopefully there will be more requests……
Thanks again