Base on my understanding, P&F Charting is still a very subjective way of TA. Basically P&F Charting is getting out price and ignore the time, then make the price becomes just a up or down signal for every until. Then apply subjective TA analysis like trend line and resist level.
cable 15 min data 12 pips by 1 reversal close plot uptrend that started on 11th june lets see if that supp area holds
Dear Dentist Are multicharts as good as Bulls eye. I have free access to multicharts through IB a/c. Thanks
i am sure they are the data source ie,interactive brokers is the same the only thing that can differ is the method of calculation might be different/or the same. The only way to find out is to compare charts from bullseye and multicharts using the same set of data.same box sizes and same reversals there is a way round this..just use line chart and have a dot on the 1 sma also .a candle and use a dot as the sma look for those dot clusters for possible breakouts and place trendlines just the final bit of analysis could be with p/f as you have already extracted most of the information from the chart load up one trend.so a 4 hour should have one trend...if there is one see eurusd 240 posted yesterday
dax 1 hour line chart with a dot on 1 sma/close i have loaded 2 trends the dots give you an idea where the breakout points are...you can focus on a particular area trends are the most important aspect of any chart,whether it be candle,bar p/f
a trendline placed now we can study that trend on a lower timeframe all charts should be broken down into range,uptrend and downtrend using horizontal and subjective trendlines...first notice..we have not been near a p/f chart as yet
now we can fool around with p/f on that downtrend we optimise the box and reversal'''visually we get 3 minor down moves in that downtrend remember..the latest trend is the most important then we can go and look for set ups to trade with