Does anyone here even bother with P & F charting? Apparently this tool has polarized many traders -- some swear by it while others claim it is completely worthless. Has anybody here used P & F and, if so, what is your opinion of it? I am wondering if it is worth my time to study it in detail. Thanks
Tycoon, P&F charts are a very valuable tool for support and resistance levels and setting price targets. They get rid of all the insignificant noise. I use P&F for price targets on the indices and any chart where I go back over a year. All your tradional price patterns are applied the same way, triangles, flags, double tops etc. http://www.stockcharts.com has very good P&F charts on their website and http://www.dorseywright.com has P&F tutorial. Hope these sites help you.
For anyone looking for point and figure education the site mention by earlyapexer is outstanding. P&F charts are very old and have undergone a resurgence in the last 4-5 years. They are superlative for finite and visual support and resistance. http://www.CHARTCRAFT.COM is probably the oldest known P&F subscription service. FYI, they are the inventors of the weekly sentiment reading "Investors Intelligence" shown on CNBC. If you are looking for a P&F toolbox; with auto trendlines, projections, and chart patterns i.e.; Symmetrical triangles, double tops and bottoms the catapult formation, etc., consider http://www.janarps.com That is if you are utilizing an Omega Research product and wish to make use of easy language. I recommend Arps because he does my custom programming. I hope this helps. -Hoyler
If you can't trade with OHLC charts, a P&F chart isn't going to help you very much. In other words, it won't make you profitable if you are not already.
Not really. I wanted to start a new one but I noticed that there were too many dead Point and Figure threads so I decided to revive one or two with the hope that some will find my stuff useful.