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Why no P&F in NT8?

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    Why no P&F in NT8?

    Hello all,

    Why aren't there Point & Figure charts available in NT8?
    I'm referring to the original P&F which is not based on ticks, volume or time.
    The original is based on price moving a certain amount to plot
    further X's or O's.

    There are 8 settings for P&F and 6 of those are time based. The whole
    reasoning for P&F is to remove time from the chart. Most glaringly
    obvious is that none of the P&F settings are price based.

    Having these other options is great and I'm sure plenty of people like them
    but that doesn't account for the lack of the original incarnation.

    If I'm missing it, my apologies but I clearly only see tick, volume and time settings
    when I try to open a P&F chart. NONE of these settings are price based.

    Can someone explain this to me?
    I thank you in advance and I hope everyone is staying healthy, JM

    #2
    Hello johnnymustard,

    Thank you for your post.

    In NinjaTrader, PointAndFigure bars are built based on price movement. Each bar plots a column made up of either X's representing a rising price or O's representing a decreasing price. Each X or O is referred to as a "box" and represents the price distance defined by the Box size (set in terms of ticks). A new X or O box will be added to the bar when price moves more than the Box size, warranting the addition of another box. Since the PointAndFigure bars are built based on price movement, there would not be an option to select price as the base period type. Here is the Bar Types Help Guide to assist you further.

    Another parameter, called the Reversal, sets the amount of price movement needed from the High or Low to change from X's to O's, or from O's to X's. A column will continue indefinitely until a price reversal equal to the Reversal amount (set in number of boxes) occurs. There can never be two columns of X's or O's next to each other for a given session, as any additional X's or O's would be added to the current column instead. When a reversal occurs, the next column begins one box size above the last Low for X's, or one box size below the last High for O's.

    Please do not hesitate to contact us for any other NinjaTrader inquiries you may have.
    Shawn B.NinjaTrader Customer Service

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      #3
      NT_ShawnB,
      I thank you for your rapid response.
      JM

      Comment

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