Thread: Point & Figure EA

Originally Posted by PipSqueak

All time ago, Charles Dow invented one of the first charting system, the Point & Figure Chart. It is still used by a select few on the trading floor, but for the rest of us, has been forgotten.

Recently, it has been found that the Point & Figure chart works well for Forex. Point & Figure uses one source for it's movement... Price. After learning some about the various patterns, I tried the charts and it does work, but it takes time to build and follow these charts. This is a commodity that most of don't have. Our markets move quickly. The only effective way to use it would be with an EA.

This would not be an easy EA to build, plus there is a learning curve which takes time, but the end result would be a money-making EA and a step toward what might be the grail. I don't think anyone has written an EA for this yet, but if someone has one, please post it. This might be a good starting point.

Here's a link for those that want to study this method; Online Stock Trading - Point and Figure Charting

Thanks for sharing this system.

It seems that it is essentially based on trendlines and rebounds. Unfortunately, I don't know how to code this in mql language.