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[IMPROVE] Add in a Point-and-Figure (P&F) chart as an option for any asset class

Open JerBouma opened this issue 1 year ago • 1 comments

What's the feature that should be improved? As requested from a user via the Request a Feature format, it could be beneficial to graphically show charts with a Point-and-Figure chart, see here: https://www.investopedia.com/terms/p/pointandfigurechart.asp

A point-and-figure chart plots price movements for stocks, bonds, commodities, or futures without taking into consideration the passage of time.

Contrary to some other types of charts, like candlesticks, which mark the degree of an asset's movement over set time periods, P&F charts utilize columns consisting of stacked X's or O's, each of which represents a set amount of price movement. The X's illustrate rising prices, while O's represent a falling price.

Technical analysts still utilize concepts such as support and resistance, as well as other patterns, when viewing P&F charts. Some argue that support and resistance levels, as well as breakouts, are more clearly defined on a P&F chart since it filters out tiny price movements and is less susceptible to false breakouts.

Describe how you would like the feature improved Integrate this feature in all charting tools that also provide the option to show a candle chart. E.g. in Crypto and Stocks.

Possibly describe the ideal way to improve this It is fine that you need to type candle --pf to get the Point-and-Figure instead of a separate command (or name change).

JerBouma avatar Aug 15 '22 16:08 JerBouma

Note that this is a pretty easy add on through mplfinance (can also do renko when this is being worked on):

mpf.plot(year,type='pnf')

jmaslek avatar Aug 16 '22 13:08 jmaslek