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Point & Figure Charts MetaTrader 4 Forex Indicator differs from normal price charts through that they fully ignore the time values and only show changes in prices. Instead of showing prices at Y axis and time at X axis, the P&F charts show price changes in both axes.
In these charts, “X” (the cross – the red check) is drawn when prices increase by a certain basic value (RazmBox), and “O” (the outh – the yellow check) when prices decrease by the same value. Note that neither Xs nor Os are drawn if prices have increased/decreased by a value under this certain basic value.
Every column drawn can contain either crosses or ouths, but not both elements. To switch between columns (for example, from crosses column to the ouths column), the price must change by a certain value in the opposite direction. Change of column means change of the pricing trend.
To hide price charts, it is necessary to set up the background color in the chart window properties (the “Properties” command in the chart window context menu – the “Colors” tab), in fields “Bar Up:”, “Bar Down:”, “Bull Candle:”, “Bear Candle:” and “Line”.
Copy Point & Figure Charts to Directory / experts / indicators /
Start or restart your Metatrader 4 Client
Select Chart and Timeframe where you want to test your mt5 indicator
Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
Right click on Point & Figure Charts for MetaTrader 4.mq4
Attach to a chart
Modify settings or press ok
now indicator for MetaTrader 4.mq4 is available on your Chart
Right click into the Chart
“Indicators list”
Select the Indicator and delete.
In these charts, “X” (the cross – the red check) is drawn when prices increase by a certain basic value (RazmBox), and “O” (the outh – the yellow check) when prices decrease by the same value. Note that neither Xs nor Os are drawn if prices have increased/decreased by a value under this certain basic value.
Every column drawn can contain either crosses or ouths, but not both elements. To switch between columns (for example, from crosses column to the ouths column), the price must change by a certain value in the opposite direction. Change of column means change of the pricing trend.
To hide price charts, it is necessary to set up the background color in the chart window properties (the “Properties” command in the chart window context menu – the “Colors” tab), in fields “Bar Up:”, “Bar Down:”, “Bull Candle:”, “Bear Candle:” and “Line”.
Point & Figure Charts MT4 Indicator – Download Instructions
In order to transform accumulated history data, you need to install a MetaTrader 4
It is a MetaTrader 4 indicator that allows you to detect several changes and dynamics in price that many traders can’t estimate or see without an indicator, which highlights its essence and usage.
Accordingly, traders can draw conclusions and make estimates about how the prices will change based on the information they have and then they can modify their strategy for better trading.
How to install Point & Figure Charts indicator for MetaTrader 4.mq4?
Download indicator for MetaTrader 4.mq4Copy Point & Figure Charts to Directory / experts / indicators /
Start or restart your Metatrader 4 Client
Select Chart and Timeframe where you want to test your mt5 indicator
Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
Right click on Point & Figure Charts for MetaTrader 4.mq4
Attach to a chart
Modify settings or press ok
now indicator for MetaTrader 4.mq4 is available on your Chart
How to remove Point & Figure Charts Indicator for MetaTrader 4.mq4 from your Metatrader 4 Chart?
Select the Chart where is the Indicator running in your Metatrader 4 ClientRight click into the Chart
“Indicators list”
Select the Indicator and delete.
Related Indicator:NRTR WATR MetaTrader 4 Forex Indicator
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