Where can I get that indicator from, that you use with Metatrader?
One question I have:
I think there could be a problem, when having an indicator that does not use real time prices but creates the P&F charts from bars.
Imagine the following setup:
- Boxsize = 10 Pips (EURUSD)
- 3 box reversal
- Using on 1 hour chart
Now if there's a 1 hour bar with the following dimension:
- Open: 1.5000
- Close: 1.5100
- High: 1.5150
- Low: 1.4950
This would be a 200 pips move from top to bottom, but we have no clue about what exactly happened during this time.
Learn Point & Figure charts and know how to trade them
The price could have made 10 swings between high and low or only 1 swing. That would have a huge influence to the outlook of the P&F chart.
How could an indicator handle this? Taking the data from the 1min timeframe woul reduce this problem, but not totally.