point and figure chart
A type of stock chart that plots price movement without a time axis. A point and figure chart is sometimes called an "X O" chart because it uses Xs to indicate an increase in the price and Os to indicate a drop in the price. The chart is built by adding one X above the next, as the price increases by a user-specified price interval (box size). When the price of the stock changes direction by a specified amount (reversal amount), a column of Os is begun to the right of the X column, with successive Os added below each previous one until the price reverses again and another column of Xs is begun. Point and figure charts are used to filter out minor price fluctuations and identify broader trends. Compare to Bar Chart; candlestick chart.
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