1*03ly9-LoF1WLHXsxPcVEPQ.png 💥Point-and-Figure (P\u0026F) diagrams are a type of chart used in technical analysis to plot price movements without regard to time. The chart is made up of a grid of X\u0027s and O\u0027s, with X\u0027s representing upward price movements and O\u0027s representing downward price movements. The X\u0027s and O\u0027s are arranged in columns, with each column representing a set price range or \"box size.\" 💥The chart is used to identify trends and support and resistance levels, and can be particularly useful for longer-term analysis. P\u0026F charts are based on the idea that prices move in trends, and that these trends are defined by a series of higher highs and higher lows in an uptrend, or lower highs and lower lows in a downtrend. 💥P\u0026F charts can also be used to generate buy and sell signals, such as when a new column of X\u0027s or O\u0027s appears, or when a trendline is broken. Additionally, P\u0026F charts can be used in conjunction with other technical analysis tools, such as moving averages and trendlines, to confirm trading decisions. 💥One potential drawback of P\u0026F charts is that they can be more difficult to read and interpret than other types of charts, particularly for beginners. However, with practice and experience, many traders find that P\u0026F charts can be a valuable tool in their technical analysis toolbox. point-and-figure-chart.jpg 💥The Point-and-Figure diagram is a popular method of technical analysis. The format of the diagram is quite different from the bar charts typically used in technical analysis because bar charts show time on the horizontal axis. With a bar chart, we can easily see the highest and lowest opening and closing prices of a particular day, and one bar chart represents trading for one day (for daily charts) or one week (for weekly charts), which is fixed. 💥However, with the Point-and-Figure diagram, price action is represented by the letters O and X, as shown in the example figure. Although the resulting graphs may look like bars, we cannot determine how long each bar lasts because the price action remains the same for as long as there is no change or reversal, and one bar may display data for several days. This compression mechanism filters out random price movements or noise, which is not related to the trend, providing us with a clearer picture of the trend.
In the previous article we’ve analysed the main tools used particularly in trading and crypto trading. We\u0027ve explained such important element as a chart. Keep in mind that charts can be different, and each trader can use different charts and time frames. For example S#.Data (Hydra) program may build charts of various trading elements and time frames such as ticks, candles with various periods and volume charts. All of this give you a wide look to analyse the market, assess risks and its perspectives.[nerd] trade-build-charts.png A pair may have different charts which can be distinguished by time frames. So for instance, the chart can be of 5 or fifteen minutes period. These periods named are Time Frame.[happy] trading-periods-timeframe.png charts-timeframes.png Let\u0027s look at the basic elements of Japanese candle. The rectangles on the chart is the body of a candle. The body of candle is formed based on the values of beginning and the end of the chosen time frame. charts-candle-body.png A candlestick is a type of price chart, and its candlestick can have bullish pattern if the opening price is lower the closed price, or in the opposite direction is bear candlestick. In the S#.Data (Hydra) program candles adopted green and red colour therefore we can determine the rise or fall of selected exchange tool. Also, a shadow is a line found on a candlestick chart which indicates the maximum and minimum price during the forming process. In the case of the absence of the upper shadow is considered that candle\u0027s top being cut off or the opposite is the base is cut off. [ninja] A Doji is a candlestick with no real body, where the open price is equal to the closed price. If the body of the candle is small, then it is called a spinning top. S# programs allows traders to read candles as much as possible. A friendly interface and advanced analyses tools make them crucial for traders because the ability to read the candles it reduces the risks, especially in crypto currency market.[wink]
Hello everyone We\u0027ve just released a new version all our product - S#.Terminal. We really appreciate a feedback. Every day we receive your messages. Thank you for your help. Major features and options: No jokes! It a free charting application. Try it right now (no cards, no trial). We do trading tools for all of you. Wanna support up? Please buy our training. Support any markets, any instruments (stocks, FX, bitcoins, futures). Easy to plugin you favorite broker or exchange. Developer\u0027s guide, C#. Join multiple accounts and connections into single app. Only Japaneses candles? Sure not! Cluster chars with market profile are included. Full source code available. You can add any feature, or make our own custom product use our White Label program . **:::center [:\u003e\u003e Download