iCharts Discussions

[shareking]

Hi swing trader sir i have a doubut which i think you can clarify as you are a "swing trader" my question is "why traders in india donot use point and figure charting for swing trading? " i have bought many foreign books on swing trading all recomending only the use of "POINT AND FIGURE " and gann swing charting for swing trading(they even say that p&f charting is the best technique for swing trading and that those who know point and figure charting need not know any other TA method since it is alone enough for swing trading), but my question is whether p and f charts are applicable to indian markets if yes then why trders dont use it (i am asking this question because i have neither seen any indian book on the subject nor had seen any indian technical analyst recomending p and f charting.)i would be very much happy if you clarify my doubt.
Thanks in advance.

[SwingTrader]

I completely agree that point & figure charting is very much superior than normal charting. I think on the whole P & F charting is not popular anywhere in the world when compared to candlestick or bar charting. I am talking in terms of percentage of traders/investors using it. Lots of people use it in US & Europe but in percentage terms the number is quite low.

I think the reason why people in India don't use P & F much is because there are not enough/popular tools readily available for P&F charting. Also, people here like to use what is popular, P & F certainly is not popular here as very few people know about it.

Our upcoming software includes P & F charting.

BTW I use P & F charting for my swing / position trading. I have a software to plot P & F charts that I have been using since 6-7 years. One very good indicator that this tool provides is the building of "Bullish %" indicator that provides a very good view of the current market sentiment. We plan to develop this indicator for the Indian markets and provide it on our website in the future.

Here is one excellent resource for P & F charting:

http://www.dorseywright.com/cgi-bin/foxweb.exe/fwuniv

(Click on the 1 to 6 lesson links on the left, then use next button on the bottom of the page to go through the full lesson).

[shareking]

THANK YOU VERY MUCH FOR YOUR VALUBLE ADVICE.I am eagerly waiting for your software update.
thank you again.

[vijayakannan]

dear swing traders, what happened to this PnF chart. is it available now in charts. if yes where it is . pls guide

[Padkondu]

[HEMANT358]

THANK YOU VERY MUCH FOR YOUR VALUBLE ADVICE