Does anynody use point and figure charts in forex market? I use VTTrader(CMS) and they are in the
demo. I have been visual backtesting the charts and they seem to filter out alot of noise and produce some very good trends.
What got me started looking into this is that a new article by the age old Cornelius Luca is located at traders.com. I see people mentioning P&F but I cant get any reall feedback.
What P&F timeframes are good for intraday trading?
I trade with 15min-30min-60min charts and based on the nature of PF charts I wonder what would correspond?
If you look at the timeframes on 5min-10min-30-min-60min, they are all somewhat similar. Based on the fact that they do nothing if the market is quit or if it does not move more than the "Box amount", they display a small amount of data. I am thinking that 1min or 5min would be more precise than 30min or 60min. Luca mentions the fact that forex is 24hr that P&F is ideal for forex.
I also wonder what the buy and sell signals look like, and what the setups are etc.. I searched the forum and could not find any good threads. Please help a fellow trader.
. Thanks Pip Rippy