Comment on Trading Q&A

Vijay Krishnan commented on 04 Jun 2016, 10:56 AM


Not sure whether this is the right forum to raise this point. I am an intraday trader. I see that the Point & Figure Chart and Renko Chart are very useful to someone like me. While the charts appear to be constructed correctly for price actions that have already completed, however, in the live chart, they do not function properly. Here is an example:

Live Point & Figure Chart:
Security: Nifty Futures (let’s say, Nifty Jun Fut)
Box Size: 4
Let’s say that Nifty is at 8100.
Let’s say that the previous move was the completion of the “O” column.
Nifty now moves to 8104.
A New “X” column should be formed, with the position of the “X” adjacent to the 2nd “O” (or adjacent to the “O” that is above the bottom most “O” of the previous column)

So, this is what should happen. Unfortunately, in live chart, it removes the bottom most “O”, which means that I still cannot see a reversal in price. This point would be an exit point for me if I am short on Nifty Fut.

A similar issue happens with live Renko Charts. In the above example, instead of creating a new Green box, it erases the lowest Red box.

If this issue is resolved, it’ll be pretty simple for someone like me to make amazing returns. But, Since I am not able to see the changes in live charts for these 2 chart types, I am missing exit points.

Kindly do the needful and fix this issue so that a retail trader like me can profit enormously and put the money made to good use of the society

Best Regards

Vijay Krishnan

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