RELEVANCE OF TIME FRAME IN POINT AND FIGURE CHARTS
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Point and figure charts are price action based charting method then what is relevance of timeframe in point and figure charts . why change in timeframe changes chart patterns . please explain me relevance of timeframe .
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Time frame in P&F is the time in which price data is to be locked for plotting X or O's. range of price will be different in a day than from a min, so the chart of X and O will also be different for 1 min and 1 Day. Hope I am able to explain...
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Timeframe works as a data frequency in case of P&F charts. If your timeframe is one-minute, the closing price after one-minute will be considered for plotting the X or O. In the case of a 5-minute timeframe, the closing price after five minutes will be considered, and so on.
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@Prashant-Shah please explain me this scenario-
Xyz stock 0.25% x 3 Box Value setting at 1 Min and Daily Time Frame.
How it will work?
Thank you
