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sharp10
Registered: Feb 2006
Posts: 225 |
03-23-08 01:04 AM
HG, Thanks very much for the Thread.
Since I have never used P&F charts before, what are the settings to plot on a daily chart. And can they be used for shorter time frames?
Thanks again.
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HolyGrail
Registered: Jul 2006
Posts: 2803 |
03-23-08 01:07 AM
I forgot to mention what the numbers in the columns represent in the charts. It just represents the month. You have 1-9 which represent January thru September, and you have a b c which is October, November, and December.
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HolyGrail
Registered: Jul 2006
Posts: 2803 |
03-23-08 01:13 AM
Quote from sharp10:
HG, Thanks very much for the Thread.
Since I have never used P&F charts before, what are the settings to plot on a daily chart. And can they be used for shorter time frames?
Thanks again.
Time is of no consequence on a pnf chart. A daily chart looks exactly the same as a monthly chart. The only difference is box sizes that you choose to use. If you use the standard box sizes a monthly chart will look the same as a daily chart.
You should not use the standard box size for intraday trading.
For example on ES the standard is a 20 point box. This is fine for daily or weekly trading but not for intraday.
On intraday, I actually use three chart box sizes. .5, .75, and 1.0
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sharp10
Registered: Feb 2006
Posts: 225 |
03-23-08 01:17 AM
Quote from HolyGrail:
Time is of no consequence on a pnf chart. A daily chart looks exactly the same as a monthly chart. The only difference is box sizes that you choose to use. If you use the standard box sizes a monthly chart will look the same as a daily chart.
You should not use the standard box size for intraday trading.
For example on ES the standard is a 20 point box. This is fine for daily or weekly trading but not for intraday.
On intraday, I actually use three chart box sizes. .5, .75, and 1.0
Thanks HG, I guess I better start from the basics.
Look forward to your posts.
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