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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Atin who wrote (24603)	1/31/2000 10:41:00 AM
From: Ben Antanaitis	Read Replies (1) \| Respond to of 34822

Atin, The first 'X' is always the first price entity record in the input data series ie the first data record of an EOD data file or the first daily data record of a RT data stream. When folks are using daily high/low data ie the A.W.Cohen/Chartcraft data choice, I take the first days average (high+low)/2 as the first price 'X' ie the first X I use to build the series with. The exact value of the starting price ie 100 or 99.99 isn't as important as maintaining the percentage change 'delta' between boxes. It's the p&f patterns that count not the exact value the box is at. With log scaling, the box values will get 'wierd' anyway but the user will be 'rounding' or eyeballing the values to fit the increments that the issue is trading in eg cents, or eighths or strike price increments etc. That help? Ben A.