Point And Figure indicator for MT4

Hello friends, I am proud to announce that  Point and Figure indicator , which i call Cute Point & Figure indicator is almost finished and will be released soon … 😐

Above are some of the photos of indicator in action on MT4. For more, have a look here:   indicator photos.

Cute Point & Figure indicator indicator will be compatible with Meta Trader 4 platform.

*on some screens indicator is called MJ_PnF_indicator, that’s the same Cute Point & Figure indicator. 🙂

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56 Responses

  1. Sid says:

    Very nice

  2. RotcaX says:

    Looks good, I currently use Excel for PNF visuals and Python code for backtest and action. Mostly because there are no good MT4 PNF options. Yours looks well thought out.

  3. RotcaX thanks, this version of indicator will not have backtest option, but all the sizes of boxes, colors and sizes of fonts, date, grid and etc. will be fully customizable.

  4. Ignas says:

    Interesting, what about trendlines plotting?

  5. Anonymous says:

    I am curious as to what this indicator has to offer, Unfortunately all the p&f charts for metatrader that I have seen so far leave much to be desired. Shortcomings of metatrader I suppose. I hope this one will be better. 🙂

  6. Anonymous, the main thing what this indicator has to offer is: dateshowing and 2 modes of drawing chart: a) with X/O and b) with BOX’es
    Also fully customizable fonts, colors etc.
    + indicator is quite fast(takes less cpu/ram)

    What was the problem of p&f charts for metatrader which you saw? 😀

    Thanks!

  7. Anonymous says:

    Hi Michal. The most significant problem with the other indicators that I saw, not all of them, is the high cpu usage. I had meta trader freezing just to right click on the chart. Also another problem I am facing with metatreder point and figure charts is with the trend lines. If I draw a trend line and a new bar is ploted in the main prices window, then all the p&f chart is shifted but the trendline stays in place. but of course now I have to delete it and draw a new one. Maybe that is simply some option I have to adjust in MT4 and me being a noob don’t know about it.

    By dateshowing I suppose you mean that we can see the date each box was created. That is a nice feature to have. I would like, if it is possible, another feature. When moving the mouse cursor over any box it would be very helpfoul if there was a box (I believe they are called tooltips) displaying the upper and the lower prices of the box and maybe the box size i.e.
    top: 1.4630
    bottom: 1.4625
    box sixe: 5

    That would be very helpful in calculating entry points and and stops.

    From what I see in your pictures, if nothing else, your indicator is worth it for it’s looks. I really can’t wait to try it. 🙂

  8. T says:

    One suggestion. Alert when X changes to O and vice versa.

  9. Hiro Teraji says:

    I am using your new cute P&F indicator om MT4 now. It is looking pretty good.
    I have a question. What is the best setting for “ReverseOn”? the default is 3. should i not change it? Thanks!

  10. Alex says:

    Excellent indicator. Only 2 requests:
    1. Not to draw box while the price will not cross the bottom border of a cell of a grid
    2. To increase a horizontal step of a grid in 2 or 3 time

  11. j0n3s says:

    Looks ok, and the CPU seems to stay in acceptable levels.
    One question: it is possible to have boxsize as real number (not integer)?
    For some currency the minimum box size of 1 seems to be too large.

    As an alternative option can we set the boxsize in pips not in value 😉

  12. j0n3s says:

    Hiro,

    Reverse 3 is use in most of the analysis I have seen, but you can lower/increased based on your “personality”. Some analysts use 2 reverse boxes for their charts.

    If you are not familiar with P&F I will suggest to let it 3 and focus on BoxSize, later on you can adjust it to better suit you.

    j.

  13. j0n3s says:

    Michal,

    Please ignore my earlier post, the boxsize is working fine.
    I was mislead because I don’t have enough back data in 1M, now it looks fine.

    IMHO is one of the best P&F indicator available!!

    Congrats!!

    All the best,
    j

  14. Anonymous:
    am still trying to figure how to attach trends! :/
    About tooltip:
    I dont think that it is possible(with mql4) to create such a tooltip you’ve mentioned. In spite of that you can try to press “croshair” button and find at what level box appeared. Also notice that BoxSize and ReverseSize is placed at right chart corner. Have a look at ScreenShot: http://forexpnf.info/wp-content/uploads/2010/06/anonym_question_croshair.png
    ——————————
    Hiro Teraji:
    Hello, j0n3s already answered your question about BoxSize at post #11.
    Individually – I am using BoxSize = 3
    p.s. Oh by the way, thanks you Hiro for Donation! 🙂
    ——————————
    j0n3s:
    No problems, sometimes it’s important firstly to download back data from MT4 history center for 1M and only then apply indicator. Sorry i forgot to mention that in readme.txt.
    Big thanks j0n3s for remark!
    Happy trading!

  15. j0n3s says:

    Anonymous:
    Indeed, you can use crosshair or even better just put your cursor over grid – a pop-up will appear with specific value (e.g. GridHxxxxx / value).

    Michal,
    Probably for trend line the best approach is to draw trendline (manually) using “line by angle” (either with 45 or -45 degrees) and the indicator to shift all objects of this type once a new bar will come. In this scenario you’ll keep the flexibility without make a lot of computing in indicator.
    And using 0 angle you can mark relefant S&R areas.

  16. Hiro Teraji says:

    j0n3s, thank you for answering my question!

  17. j0n3s yes it would be an great solution to shift everything when new bar appears. But one bad thing still exists – when new column of X’s or O’s appears it distorts the chart anyway. So, at the moment i am crashing my head how to count and shift it right… and please just give me a time, i will find the way! 🙂

  18. Dave says:

    High,

    I like your program but you are blocking my ability to draw a vertical trendline – Your program erases my trendlines right after I draw it. Vertical/Horizontal and Diagonal trendlines are as important as support and resistance trendlines. Can you modify your version so this does not happen anymore please! please!

    THANKS IN ADVANCE!!

  19. Hi Dave,
    i know i know i know about problem with trendlines… 🙁
    I am still in progress with that, but at the moment you can try this way of plotting trendlines: http://gyazo.com/d4eb29ba3f960e7ec24ab32f14d4f6b5.png
    *remember that you will have to change you time frame to higher. This is because when the new bar will appear your trendlines will move left by one step. Sorry at the moment plotting of an trendline is possible only in this weak way.

    All the best!
    M.

  20. Anonymous says:

    May I add one more feature request? It would be nice if there was the ability to add moving averages and Bollinger bands in the chart.

  21. Hey Anonymous, at the moment it is not possible, i will need to rebuild whole charting algorithm, but there is such plans… I plan to do that in near future. Thanks
    M.

  22. Dave says:

    Hello Again,

    I read your reload advice and tried to download the 5-digit zip – NO GO!!
    WINZIP says not a valid zip file (Tried several times!). Could you try downloading it on your system. If it does not work for you, could you recreate the 5-Digit Version .zip and add it back to your blog here!! Thanks a Bunch!!

  23. Hi Dave,
    i have tried and it extracts, but anyway i have recompresed 5 digits .zip and reuploaded to server. Dave, try it now!

  24. Andreas says:

    Hi Michal,

    just tried your Cute PnF… it’s not cute, it’s great 🙂
    However, I have no idea how I could access the data of the chart in an EA, i.e. finding the values / datetimes of the last n reversals and feeding them into some pattern recognition algorithms.
    Could you provide a short “API-documentation” for your indicator?

    Thanks alot and keep up the good work!
    Andreas

  25. Andreas hi, thanks 🙂 !
    Do you mean variable names? Or something like that?
    Short work process:
    1. indicator counts how much columns of X’s and O’s will be at all(based on high/low price data – indicator is starting his work at the oldest bar and continues to follow indicated boxsize)
    2. indicator draws grid(only 1 time, when the indic was applied, and every new columns starts adding 1 vertical line) – this method gave us more free cpu and ram, because pc creats less objects.
    3. indicator draws each symbol(x or o) and checks is the reverse is hit
    4. indicator looks for dateshowing option – is it on or no. If yes then indicator is deleting that symbol and placing in that place date.

    Thanks!

  26. Andreas says:

    step 3: Does the indicator iterate over each bar in the chart and determine, if it is a reversal in the PnF-chart or not? If for example this reversal-information would then be written to a “standard” IndicatorBuffer (let’s say 0=no reversal, 1=top, -1=bottom or sth. like that), I could access it with the iCustom function and have the price and the time of the bar where a reversal occurs. That’s what I’m looking for 😉

  27. Columba says:

    Michal —

    I have carefully followed your directions and find the NAME for the indicator loaded in Navigator with the custom indicators, BUT with no contents. Could it be the .ex4 ending? All other saved indicators are in .mq4. I know this is all about compiling, but I really want to load your PnF indicator.

    What should I do next? Anyone?

    Columba

  28. Andreas
    The algorithm is the same as this one .mql indicator have here: http://cdn.forexfactory.com/attachment.php?attachmentid=153641&d=1222933436

    ————————–

    Columba hello, yes it is .ex4 file.
    Sorry, columba – you want to apply it to the chart manually without using templates and it doesn’t work?
    Describe your problem a bit wider.

  29. Columba says:

    Michal —

    First, thanks for responding. I did successfully download the .mq4 indicator you linked me to. Working fine without consuming too much CPU space.

    Of course, yours in very nice with the Xs and Os rather than the colored boxes.

    By the way, your templates did load up fine in the .tpl folder, and I was going to use your indicator with one of your templates. So clearly, for me, the failure is getting the .ex4 to actually load.

    Any thoughts how I can do this?

    Best to you, Columba

  30. Columba says:

    CLARIFICATION

    The indicator I loaded was from the address you send to Andreas at Forex Factory.

    Columba

  31. Columba hey, now everything is ok?
    Anyway i suggest you to check this instructional video: http://www.youtube.com/watch?v=HZ9BzRzRXkM

  32. DayDreamin' says:

    Thnx sooo much for this!! I’ve been lookin’ around for a good program for the past few days with no success. I will def be donating soon; after I play with the program for a bit. I’m still having trouble plotting trendlines though but I don’t mind doing it manually. I just need for them to show up and stay on the grid. Thnx again!!

  33. DayDreamin’ hi!
    It’s pleasure to hear that you like it, bro!

    Yes, version 1.1. of indicator has difficulties with trendlines plotting.
    But here comes good news 😀 !
    I spent almost whole last night on programming/testing and figuring how to make them stay at their places and almost done it! It’s likely that new version of Cute PnF indicator with solved “trend disappearing” and “shifting” problem will be released in few nex days. So, dont forget to come back here, and check new posts or >> downloads < < section for new version.

    Best wishes DayDreamin`!
    Michal

  34. tevres says:

    hi michal,thank you for all your efforts,just downloaded your pnf last night (18 june)followed the video instructions successfuly and set the charts up on my metatrader platform,everything looked good except it’s keep crashing the trading platform,freezing it,any suggestions as to how I could overcome this problem?I hope this comment will help solving the issues I am experiencing,I must say what you trying to achieve is fantastic I personally really apreciate it, keep it up,kind regards,tevres.

  35. Hi tevres,
    show me your MT4 TOOLS >> OPTIONS >> CHARTS section’s screenshot – http://img295.imageshack.us/img295/7364/c52dec5a0a951b99d097063.png ,
    and your MT4 with Cute Pnf options screenshot, i mean – this: http://img37.imageshack.us/img37/8810/62da79e9d41fd6174708e72.png
    And write how much and what charts you are using at once.
    M.

  36. j0n3s says:

    Hi Michal,

    One more suggestion – do you think it’s easy to have “fixed” grid? – currently the grid have some slippage due to calculation.
    It’s not critical, but if it’s easy to do it I think it will be nice.

  37. random-man says:

    Just downloaded the indicator over the weekend, so no chance yet to see it in action, but I like the look of it. My only (constructive) comments are: I hope it doesn’t slow things down too much, especially as I like to have a few candlestick charts open too; and it would be good to have fixed square boxes to help with drawing trend lines at 45deg (but that’s a really minor issue). I’m hoping this really works as I tried another one that I had to pay for and it kept crashing my platform. If this works I’ll definitely be donating.

  38. tevres says:

    Hi Michal,sorry I couldn’t get back to you sooner,and also I don’t know how to get screen shots of what you have asked me( I am 57 years young man computer age is beyond me slightly) but I could tell you how I’ve set them up;Show Trade Level is ticked,Show OHLC is ticked,Show ask line not ticked,Show priod seperators not ticked,Colour print not ticked,Max Bars in History 512000,Max Bars in Chart 45000,Cute Pnf;Brokers Digit is 5 which is correct,Box size I’ve changed to 5,Reverse on is 3,so far I’ve got it on 1 Minute EUR-USD and 1 Minute GBP-USD charts thats it I hope this will help,also I do not have a clue how to trade cute pnf charts,When do you open a position? and when do you exit?If you could help it will be greatly appreciated kind regards tevres.

    • tevres hello. Firstly, no problems with your age, big respect for your! 🙂
      About problem: I think your problem is too big number of bars, viewed on chart. Firstly, i strongly recommend to download newest version of indicator and read readme.txt file. Next(after installation) try to change “Max Bars in Chart” from 45000(yours) to 20000 and restart your metatrader(if it will nothelp – try “Max Bars in Chart” = 5000.
      About trading with PnF: PnF trading generally is based on patterns & trends, read more about it here or here or here.
      Hope it’ll help!

  39. John van Rensburg says:

    Hi Michal.

    I have a problem with your P&F chart in that when one scrolls the data dissapears of the screen, I then have to compress the vertical size of the chart to see the data (Hold the left click button down on the right prices and move up or down). ForexImpact.com has a Point and Figure indicator for MT4 that compresses or expands the chart as one scrolls.

    Do you have any plans to fix this problem?

    John.

    • Hi John,
      Here is manual way to prevent chart of being auto-distorted when the price runs out from the current screen. I showed it at installation video at 3:00 minute.
      After you’ll apply Cute PnF indicator and scroll the chart to the needed size – press right button anywhere on the chart , select properties >> common >> find there “scale fix” option and CHECK it , press OK . Now your chart will hold in place without any distortions.
      Hope it’ll help you.

  40. John van Rensburg says:

    Hello Michal.

    Thanks for the reply but I have already done this. What I am saying is that when I scroll back the data disappears of the screen depending on the price, with the other P&F indicator they adjust the size of the grid as you scroll so that the data remains on the screen.

    Thanks

    John.

    • John ah ok now i understand what you are talking about! 🙂 All other indicators such as “ForexImpact” commercial product – are painted on different window, this is why their indicator can auto resize. In future, i will try to solve this problem by adding a new option, which will allow to run Cute PnF indicator on the separate window.

  41. tevres says:

    Hello michal,thank you for all your help you have been very helpful,I,ve solve the previous problems thank you and now I have problem with trend line not staying where I put it, it’s seem to be moving all the time,I have followed all the instructions that you have put out and also I’ve downloaded the new version of P&F software,can you help please?and also If you could give me some indication as to what box size should I use for long term trading?thank you and kind regards.
    Tevres.

    • tevres am glad that it helped you before!
      About trendlines: after plotting the trendline with standard MT4 trendline tool you must go to this(plotted) trendline’s options and rename it to “trend1” without “”, type it only with lower-case letters. After this step – trend line will stay at its place for all the time while the MT4 will be turner ON.
      For plotting second trendline you must repeat all mentioned steps above, except trend’s name – it must be set to “trend2”. For plotting third or fourth trendline everything is the same, just don’t forget to rename them to “trend3” and “trend4” , thats it.
      About boxsize i am long term trader and i am using boxsize=20 or 30 and reverse=3. (EUR/USD) But you must remember that – the higher boxsize can cause bigger losses if your assessment of the situation will be wrong.
      Hope it will be helpful tevres once more 🙂 !

  42. John says:

    Thanks Michal, will wait for your next release.

  43. tevres says:

    Hi michal,you are fantastic,after little bit of trying problem solved,thank you.About the box sizes I’ve read somewhere that they use 14 Day Average True Range in order to find the right box size?and also depending on the volatility of the currency pair box sizes changes ie gbp-usd 100,eur-gbp 25,any comment on that? and one more thing how could I put more data onto the charts because when I use 50 box size there is hardly any pnf chart info on display,can you help please,once again a big thank you and kind regards.
    tevres.

  44. Dave says:

    Good Day Michal!

    Just became aware to the new version. I was anxious to see my diagonal trendlines stay put in relation to the chart when I downloaded your 1.2 version 5-digit upgrade. Unfortunately the chart did the same as the first earlier version – It shifted so the trendlines did not stay put on the chart. If I have done something wrong, please tell me?? I am using the MT4 platform with Interbank FX, 5-digit platform. 1-min graph, 10 x 1 box size and reversal on GBPUSD. Please advise!! Thanks Michal in advance.

  45. faze says:

    Very nice indicator! Can anyone recommend boxsize/reverse for daytrading? I currently have it set to 7 and 2, any advice would rock. Thanks.

    • Hi faze, for short term trading i recommend you to use standard day traders configuration: 5×3 or 5×5 , sometimes(when the day’s volatility is really high) is good to increase boxsize to 10. or 15 pips. Go go check it out.
      Greetings, m.

  46. Tyler says:

    I’ve searched through the comments and couldn’t find the answer (maybe I missed it) about how to change the BoxSize and ReverseSize.

    Can somebody tell me hoe to change both BoxSize and ReverseSize, please?

  47. Tyler says:

    Sorry, I figured it out. I’m new to MetaTrader, so it’s probably common knowledge, but in case anyone else has the same qustion:

    -Right click on chart
    -Select “Indicators List”
    -Select “Cute_PointAndFigure”
    -Click “Edit”
    -Change “BoxSixe” and “ReverseOn” numbers to whatever you prefer