Point and Figure charts 45' lines

[craiggroom]

I am attempting to plot a 45' line on PNF charts. As I am sure you are aware, 45' lines are one of the fundamental aspects of PNF analysis along with support and resistance analysis and PNF 'Counts'.

I use both E-Signal and CQG. In querying CGQ on why I was unable to draw 45' lines, they suggested I use a 'protractor' on an 'adhesive screen filter' to draw a 45' line. It was very entertaining, especially since the dimensions of the X and 0's do not remain fixed when the chart is fitted on the screen, so any attempt to draw these line will at best be very inconsistent....

Does E-signal have a tool that allows these lines to be drawn.

Any serious suggestion relating to drawing these lines on Esignal would be appreciated, since the response I got from my CQG service providers was laughable at best.

Kind Regards

Craig Groom

[DuaneG]

Hi Craig,

Interesting answer indeed. Currently, we don't have a feature in the line drawing suite that draws a fixed 45 degree angle based on the anchor point. The only feature that would be near this functionality is the line tool, but again, it doesn't draw pre-determined fixed angles. This tool can be used, but the slope it illustrates is user defined.

[JayF]

I think one great way that this could be implemented would be to hold down a key when drawing a line to lock the line into the nearest 45 degree angle respective to the current price/time axes. Could be a bit tricky to implement though from a programatical standpoint.

Until a time when we have a direct way of drawing a 45 degree angled line, may I suggest using the pitchfork tool! If you place the anchors in a square formation using the Magnet tool, you will form a 45 degree lines. You can then right-click the drawn line and Copy it to place it wherever it is needed on your chart.

Here's a close-up of such lines. Notice how the second copied pitchfork has all but it's median lines turned off. That can b e done via the right-click and then Edit menu.

[dschram]

PnF charts

eSignal ought to be able to automatically draw 45 deg angle lines on PnF charts.

More importantly, esignal's PnF charts ought to automatically increase box size as price increases--this should be a default setting. Is there any way to set up PnF charts so box size changes as price rises or falls???

Here is an example of how box size could increase:

Price Range Box Size
Up to $0.25 .0625
.26 to 1.00 .125
1.01 to 5.00 .25
5.01 to 20.00 .50
20.01 to 100.00 1.00
100.01 to 200.00 2.00
200.01 to 500.00 4.00
500.01 to 1,000.00 5.00
1,000.01 to 25,000.00 50.00
25,000.01 and up 500.00

In addition, users should be able to use a % filter or input some other calculation to permit a variable box size as price increases. Bollinger suggests 17% * sqrt of price. The user could input the initial reference box price from which to start the calculation.

Is there any way to allow such calculations of box size???

Thanks.

[JayF]

dschram,

Thank you for the suggestions. I'll send these over to our product development team for consideration. In case you were not already aware, suggestions can be submitted through Customer Support --> Make a suggestion.