Question

• How do I set up a new chart for the first time?
• How do I add a new chart with the template?
• How do I change the settings?
• What is the Scale parameter used for?

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Answers

1. How do I set up a new chart for the first time?

I recommend to save a template after the first time you set up a Point and Figure chart. This makes your life easier if you want to add new charts. It takes only a minute to create the template and only a mouse click to add new Point and Figure charts.

Watch this video for further details:

2. How do I add a new chart with the template?

After you have saved a template for Point and Figure charts, adding new charts is very easy. Open a new chart window, load the template and you’re nearly done. Just check the Scale fix option in the charts properties, so that you can move the chart and it’s not fixed.

Here’s a video demonstrating how to add new Point and Figure Charts:

3. How do I change the settings?

Open the Indicators List (Ctrl+I), select the Point and Figure indicator and press Edit. You will find a list of parameters that you may change like box size, reversal, colors and appearance of grid, trendlines etc.

Here is a video where I change the timeframe, boxsize and add a grid to the chart:

4. What is the Scale parameter used for?

The standard scale factor is 1. But sometimes zooming in and out the chart just isn’t sufficient, because the chart is too small or too big. To fit the chart to your needs, you can use the scale factor. This allows finer zoom in and out and changes the appearance of the chart not as much as with a scale factor of one.

In this video, I demonstrate how I change the appearance of the EURJPY pair at a setup of 3×10, 5min timeframe. See how the chart is too big at first, but then I change the scale factor to 2, later to 3. Adjust the chart by zooming in and out (by cliking on the zoom icons in the chart toolbar or by pressing ‘+’ or ‘-’ on your keyboard):