MightyOne wrote:Long-term charts differ from small charts in that their closing prices represent a price leg or "trend"; so, when you are looking at a large chart, you have to take closes into consideration.
On small charts, you should be more concerned with overlapping price bars than where a single bar closes.
Point & Figure is plotted differently (HLC) than it is on small charts (<H4)
I will assume that you know how to plot a "2-box as 1-box" reversal High/Low Point & Figure chart.
In High/Low the bias is in the direction of the last point made where as in High/Low/Close the bias is in the direction that price closed beyond the open price.
The active candle is not used:
If candle is green & candle is red then you are going to check for high points & then low points & then reversal points.
If candle is green & candle is green then you are going to check for high points & then reversal points.
It is possible to plot three columns from a single candle.
I think I'll just stick to my coin flip for direction and I'm too cheap to buy a lucky rabbit's foot.