Point & Figure Bars

Point & Figure Bars 2016-10-18T17:07:22+00:00

In Use For Centuries, And Still So Powerful

Point & Figure charts do not need introduction, they have been one of the leading chart techniques for over than a hundred years.

Now the Point & Figure comes as offline chart to MT4. You may apply any standard MT4 indicator to such chart.

With use of OmniaRemote placed on the chart you simply apply graphics overlay over the offline candle chart and get the traditional chart look.

Point and Figure example
  • Precise and Fast and Non-Repainting. Indicator is based on live price feed. Once the price tick arrives, it is recorded and used in all subsequent indicator sessions. Fine data is used only where reasonable, keeping performance at a high level and preserving the data used in previous calculations.
  • Wide Range of Parameter Values. Indicator uses multiple timeframes history, from a week level down to a tick level, ensuring high speed and accuracy for many different input settings.
  • Controlling Performance by a User. Limiting the initial chart length to a fixed number of bars enables user to control chart performance in a defined manner. Moreover, if necessary, indicator can reduce frequency of chart updates.
  • Graphical User Interface. Settings for deployed generators are accessible directly in the chart, both the feed chart and the generated chart. Accessing settings from the generated chart makes parameter handling comfortable.

The offline Point & Figure chart supports the traditional view as an overlay above the identical OHLC candles chart

The next video shows the effect of wicks on the PnF chart. While it has no effect on the X/O canvas, the candles have same bodies but different H/L. The current candle displays wick only to a point where the current price crossed the X/O level, the rest of the wick gets wiped.

The Advantage

This P&F chart is build as an offline chart, using the standard Omnia Charts engine.

This brings you following advantages:

  1. You may run an EA on P&F chart.
  2. You may attach any standard or custom indicators to a P&F chart.
  3. Correct tick volume in each P&F candle
  4. Correct starting candle time
  5. Your chart won’t repaint when relaunched
  6. Your chart can be easily re-adjusted

… and many more, following a list of features of Omnia Charts offline engine, like session detection, tick reuse ability, disconnection, account change detector or the Strategy tester compatibility.


Get OmniaBar License Key Bundled @

ElectroFX

Omnia Remote Is Recommended

Do not miss to place Omnia Remote on the offline chart.

Only with the indicator you can switch on/off the display of the traditional X/O layer on the top of the offline candles background.

Unique Features

What are additional features of Ovo offline generators?

  • the generator is an indicator rather than a script or EA, which makes it more comfortable for deployment
  • input setting is adjustable from multiple places: from the input dialogue, or from the entry box of an indicator sub-window, or from the offline chart using additional indicators (Omnia Remote, Omnia Auto Range). Settings on the offline chart makes the range switching as flexible as switching between timeframes.
  • safe timeframe switching of the feed chart  (no need for sacrificing the feed chart for a single timeframe)
  • generator can detect and optionally break chart into trading sessions
  • generator uses all available timeframes for the initial model, and it is not bound to a single selected timeframe
  • when starting up, the indicator selects the chart starting anchor from the user-defined chart candles count
  • a single indicator can serve multiple identical offline charts (a single chart ID in multiple windows)
  • detects significant drop-outs in feed and rebuilds the offline chart after the feed updates
  • displays consistent candle tick volume calibrated to regular timeframes, so you may rely on the tick volume in your analysis and EAs
  • guards for a change of the feed server, so it updates the chart if you switch between accounts
  • works properly with symbols having MQL unfriendly names (like "EURUSD..", i.e. trailing double dot in the name)
  • reports unexpected time gaps in the MT4 history, reports inconsistencies between symbol timeframes
  • excludes phantom (no volume) ticks
  • fixes incorrect input for a non-trivial instrument tick size
  • can decrease chart refresh rate on demand
  • indicator development is still open, you may expect fast fixes for new Metatrader builds

23 Comments

  1. Martin October 22, 2015 at 2:09 am - Reply

    Hello,

    one more question please: “x” and “o” are essentially partial bars, or bricks, and thus EAs or typical indicators can process these?

    Thanks.

    • Milan October 22, 2015 at 5:48 am - Reply

      Hello Martin, the X/Os are rather price marks than bricks. The X/O look is just an overlay, the EA must watch the price levels itself.

  2. Ahmadna November 19, 2016 at 12:39 pm - Reply

    Hey there, been sending some messages with no replies
    Where I can connect with you ?

    • Milan November 20, 2016 at 6:49 pm - Reply

      I register 2 queries from this email address on Nov 18, both replied. If they did not arrive, place your query here, I would answer it.

  3. Clepal December 24, 2016 at 8:19 am - Reply

    Hi
    how can you place correct volume bars under each column? Also is each volume bar coloured the same as the column? I.e under an X column the volume bar is red etc?

    • Milan December 24, 2016 at 9:55 am - Reply

      Hello Clepal, the volume in columns reflects the tick volume read from the timeframe charts, so volume showed by the system display is correct. However the specific colour pattern would require a custom indicator.

  4. Clepal December 24, 2016 at 11:27 am - Reply

    Hi Milan,
    Thank you for getting back to me so quickly. Where in the indicator can i add the volume to the chart?

  5. LI LI January 15, 2017 at 2:02 am - Reply

    Can I use it on multiple computers after purchase?

    • Milan January 15, 2017 at 9:39 am - Reply

      Hello LI LI, the standard license is for three computers. You may swap it to other three computers using a form.

      • LILI July 2, 2017 at 2:19 am - Reply

        At present in the use of normal point can not be normal, after adjustment can be normal display?

      • LILI July 2, 2017 at 2:30 am - Reply

        would u plz add one parameter to compress one point figure, so that there is at least two points in a column.there are

  6. Vinay Kulkarni May 8, 2017 at 7:00 pm - Reply

    Hi Milan

    When i use X/O, upward movement is shown by red and downward by green color. Is it possible to change? IF background of chart is changed to black, X/O are shown in white box. What is to be done to remove white box.
    Thanks

  7. gram June 22, 2017 at 9:16 am - Reply

    Good morning,
    I am thinking of getting your PnF indicator and wished to loo at the video. However, I am getting no sound. Can this be resolved?
    Thanks.

    • Milan June 22, 2017 at 9:22 am - Reply

      Hello Gram, the video has no sound track actually.

  8. gram June 26, 2017 at 3:40 pm - Reply

    A. OK. That explains it. I thought it might have as I had watched the Range bars video.

    In any event, I am interested in it as I am purchasing a Windows machine on purpose to run it (I usually work on a MAC). I presume it should be sufficient something like an Intel I5 with about 4 mb ram and HD. I did think of an Atom processor, but I fear it will run slowly.

    Can you confirm that the PnF add on runs in RT in MT4?

    Thaks,
    gram.

  9. gram July 4, 2017 at 11:33 am - Reply

    HI Milan,
    Haven’t heard back from you re. my post above. Wonder if you have had a chance to consider it and if you could let me have a response?
    Thanks,
    gram.

    • Milan July 5, 2017 at 10:00 am - Reply

      Hello gram, apologies for letting you wait, I returned to the office first yesterday after holiday. I assume there is no need for a Windows computer if your Mac is already running MT4. There are many Mac customers running those indicators (mostly in Wine environment), and despite there are some problems with MT4 updates in general, there is no special requirement for the stuff I am offering.

  10. gram July 5, 2017 at 2:24 pm - Reply

    Thanks Milan,
    No, I explained badly. I am not currently running it on my MAC (I had problems getting Wine functioning), so am thinking of buying a PC. The question was abut he required configuration for that.
    Tx.
    gram.
    ps. Hope you enjoyed your holidays.

    • Milan July 5, 2017 at 3:59 pm - Reply

      Oh, i see. in such case i cannot help you much, as the offline generators alone do not add much to the power drain. The most expensive are indicators deployed on the offline charts, and the MT4 chart refresh mechanism of the offline charts. I am usually testing the load with 60 naked offline charts on a cheap laptop computer, and the computer core never goes to saturation.

  11. gram July 5, 2017 at 4:08 pm - Reply

    You are helping. By cheap laptop do you mean something that has something like an Atom or Celeron os rather than and Intel I3 or I5 or I7?

    • Milan July 5, 2017 at 4:47 pm - Reply

      I never had the Atom in my hands, no idea how powerful it is. By the cheap one I mean a basic laptop (worth $400 new), in my case 3-y old Pentium 2020M processor.

  12. gram July 5, 2017 at 5:49 pm - Reply

    Ok. Milan,
    Thanks
    gram.

  13. LILI July 13, 2017 at 7:17 pm - Reply

    would u plz add one parameter to compress one point figure, so that there is at least two points in a column.there are

    Compress-1-Box-Chart

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