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Point & Figure Strategy

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    Point & Figure Strategy

    Hello & good day.

    I'm trying to set up a strategy/backtest where it goes long when a new column of blue X's begins. It'll go short when a new column of red O's begins.

    The stop loss & target would be N number of ticks.
    Can someone help me out with this?

    The problem I'm having is that I can't make it recognize when it starts a new column of X's or O's. In the attached screen shot, I'm using box size = 1, reversal = 3.

    Seems like a condition stating when price moves 4 ticks down in a rising column of blue X's or 4 ticks up in a falling column of red O's would do it but can't quite get it.

    I thank you in advance, JM


    Thank you for the question.

    Could you provide a sample of the condition you are currently using to check this? Also the image you had mentioned did not come through.

    Can you tell me. are you asking how to detect what the current bar will be based on its first tick?

    I look forward to being of further assistance.
    JesseNinjaTrader Customer Service


      Jesse, I tried including the image again.

      I don't have a condition as of yet, not sure how to write it. I've tried something like "If ask moves lower (in rising column of blue X's) by 4 ticks, then sell", but don't know how to phrase it. On the 3 reversal setting, that's what would have to happen to switch from rising X's to falling O's.

      To answer your question "are you asking how to detect what the current bar will be based on its first tick?" sorry but yes & no.

      Yes, it would be helpful if the software could recognize when a new column begins (that's what I'm shooting for) whether it's X's or O's. No, I don't expect NT to tell me how large or small the column may be.

      On a related matter, can you provide a detailed explanation of the "Base Period Type" setting for P&F under Data Series? The options are Tick, Volume, Minute, Day, Week, Month and Year. 5 of these 7 are time based. I thought P&F doesn't consider time.

      I've opened 2 charts with 1min P&F and another of 10min P&F. They are very different over the same time frame, security etc... I don't understand why. Can't find anything in help section addressing this.

      I hope I've answered your questions and thank you. I'll be leaving for work soon and will check back later. JM
      Attached Files



        The basePeriodType would select the data to be used and also the horizontal scale that is used. The type is not dependant on specific times but would apply the close bar to the base types scale.

        For example on a base period of 10 minutes, you may see bars generated at 3, 3:10, 3:40, 3:50 etc. Seemingly random but always on the 10 minute frequency because the base type is 10 minutes. There was enough price movement from 3 - 3:10 to generate a bar, there was not enough movement from 3:10 - 3:30 so a bar was not generated until 3:40.

        Potentially you could form a condition around finding which bars are X's and O's and then also checking the ask or bid how you need.

        One way to locate the different bars would be the following condition. this would simply mark X's or O's. You could then add more to the condition to be more specific.

        if (Close[0] > Open[0])
            DrawDot("x" + CurrentBar, true, 0, Close[0], Color.Green);
        else if(Close[0]< Open[0])
            DrawDot("o" + CurrentBar, true, 0, Close[0], Color.Red);
        I look forward to being of further assistance.
        JesseNinjaTrader Customer Service


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