Point and Figure fot MT4

[frangonve]

Hello,

I've found an interesting version of a Point and Figure indicator, with alerts and PDF manual...

Indicator:

http://www.forexfactory.com/attachme...6&d=1214817926

Manual:

http://www.forexfactory.com/attachme...7&d=1214827609

Author's video describing how to use it:

Viddler.com - Forex Point and Figure Pro - Uploaded by foreximpact

Cheers

[lianwk]

Hi Frangonve,

I went through what you have post and seems like an interesting system. Have you actually tested the system? I have notice something different in the P&F chart if the indicator is attached on different timeframe. This should not be the case as the principle of the P&F works on price action and not time.

It would be wonderful and most appreciated if you could help to explain.

Thanks.

[wades-world]

I've heard that this is a good strategy for long term investing, is this true?

[mooreart]

Originally Posted by lianwk

Hi Frangonve,

I went through what you have post and seems like an interesting system. Have you actually tested the system? [COLOR="Red"]I have notice something different in the P&F chart if the indicator is attached on different timeframe. This should not be the case as the principle of the P&F works on price action and not time.[/COLOR]

It would be wonderful and most appreciated if you could help to explain.

Thanks.

Attachment 697

Attachment 698

I noticed this too and would like an explanation. If Point & Figure is based solely on price action then it stands to reason that a change in time frame would not change the P&F chart. Is it just this particular indicator or is it that MT4 operates on time as well as price and therefore the indicators do too? I don't know. Does anybody else know?