The Definitive Guide to Point and Figure: A Comprehensive Guide to the Theory and Practical Use of the Point and Figure Charting Method (Jeremy Du Plessis, 2005)

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Characteristic
  • They are usually constructed with Xs and Os instead of lines or bars.
  • Xs represent sequential up movements in price. 
  • Os represent sequential down movements in price. The Xs and Os are called 'boxes'. 
  • Each X and 0 represents a discrete price interval, which is called the 'box size'. 
  • Price changes below this interval are ignored when plotting the chart. 
  • A column of Xs changes to a column of Os (and vice versa) when the price changes direction by a given number of boxes. This is called the 'reversal size'. 
  • The columns of Xs and Os represent demand and supply. 
  • The chart sensitivity can be varied to show the short, medium and long-term position using the same data. No record is made of price gaps. 
  • Price is scaled on the vertical Y axis. 
  • There is no time-scale along the horizontal X axis. 
  • Time plays no part in the construction or analysis of Point and Figure charts. 
  • Although there is no time axis, Point and Figure charts are two-dimensional charts. 
  • Volume plays no part in the construction or analysis of Point and Figure charts. 
  • Point and Figure charts are named according to their box and reversal size.

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