Thay vào đó các quán bar cho một khoảng thời gian trên trục ngang, tuy nhiên, các cột trên một biểu đồ và con số thay thế giữa các XX cho biến động giá lên và O biến động giá xuống, thay đổi từ một trong những nhân vật khác khi một số quy định của giá phong trào xảy ra. Mỗi hộp trên một biểu đồ điểm và con số đại diện cho một đơn vị giá. | 38 TECHNICAL ANALYSIS The Art of Charts FIGURE Multiple one-bar signals. POINT-AND-FIGURE CHARTS The point-and-figure method of charting has a long history. Author and well-known technician John Murphy estimates the development of point-and-figure charts goes back to sometime in the 1880s or 1890s but they have not been popular with futures traders in recent years. Point-and-figure charts have one unique difference from other charts Time is not a concern only price action is. The vertical axis represents price the same as a bar chart. Instead of bars for a time period on the horizontal axis however the columns on a point-and-figure chart alternate between Xs for upward price movement and Os for downward price movement changing from one character to the other when a specified amount of price movement occurs. Each box on a point-and-figure chart represents a price unit. If prices are moving up an X is placed in a box as each new higher price unit is achieved. When prices turn lower by a set number of boxes price units a new column of Os begins to the right of the column of Xs and Os continue to be added to the bottom of that column as each new lower box price unit is reached. A price reversal equal to one box size may result in the formation of a new column. A method of smoothing out fluctuations is to only record price reversals that exceed a set number of boxes. The number of boxes is called Point-and-Figure Charts 39 the reversal amount and a new column will not be started until price has retraced by that amount. Standard plots would usually be stated as something like 10 by 3 that is 10 points per box with a three-box 30 points reversal amount. Thus a new column of Xs or Os would not begin unless the market reversed by 30 points. When you update a point-and-figure chart you re only concerned with high and low prices. The closing price is unimportant. You remain in the current column as long as the price action continues in the same direction. If you are .
