You can change Box size (in pips) and Reversal amount (in boxes). Any timeframe, any pair.
By default: green mean “X” and red “O”.
For Better viewing use line graph and change from chart properties (F8) line graph color to “None”.
Bug report: If you refresh chart by adding older bars, then you need reload indicator (i.e switch timeframe and back). If anybody knows solution, you are welcome.
P. S. Point & Figure charts works well with gann lines. In Picture 1 is Gann fan with scale 5.0.
P. P. S. WTF is Point & Figure…? Look at Investopedia.com
MT4 Indicators – Download Instructions
Point & Figure indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Point & Figure indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Point & Figure indicator.mq4?
- Download Point & Figure indicator.mq4
- Copy Point & Figure indicator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Point & Figure indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Point & Figure indicator.mq4 is available on your Chart
How to remove Point & Figure indicator.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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MT4 Indicators Download here: Point & Figure indicator