pointfig

Point and figure chart

Syntax

pointfig(Data)

h = pointfig(ax,Data)

Description

pointfig(Data) plots a point and figure chart from a series of prices of a security. Upward price movements are plotted as X's and downward price movements are plotted as O's.

h = pointfig(ax,Data) adds an optional argument for ax.

Examples

Generate a Point and Figure Chart for a Data Series for a Stock

Load the file SimulatedStock.mat, which provides a timetable (TMW) for financial data for TMW stock. This Point and Figure chart is for closing prices of the stock TMW for the most recent 21 days. Note that the variable name of asset price is be renamed to 'Price' (case insensitive).

load SimulatedStock.mat
TMW.Properties.VariableNames{'Close'} = 'Price';
pointfig(TMW(1:200,:))
title('Point and figure chart for TMW')

Input Arguments

Data — Data for a series of prices

matrix | table | timetable

Data for a series of prices, specified as a matrix, table, or timetable. Timetables and tables with M rows must contain a variable named 'Price' (case insensitive).

Data Types: double | table | timetable

ax — Valid axis object

current axes (ax = gca) (default) | axes object

(Optional) Valid axis object, specified as an axes object. The point and figure plot is created in the axes specified by ax instead of in the current axes (ax = gca). The option ax can precede any of the input argument combinations.

Data Types: object

Output Arguments

h — Graphic handle of the figure

handle object

Graphic handle of the figure, returned as a handle object.

More About

Point and Figure Chart

The point and figure chart is a type of financial chart used in technical analysis to represent price movements of an asset without considering the time dimension.

Unlike traditional charts that plot price changes over time (like candlestick or line charts), point and figure charts focus solely on significant price movements, allowing traders to identify trends, reversals, and support and resistance levels more clearly. When the price rises and reaches the designated box size, an "X" is added to the current column. If the price subsequently falls by the reversal amount, a new column of "O"s is started. Conversely, if the price falls and reaches the box size, an "O" is added. If the price rises by the reversal amount, a new column of "X"s is started.

Version History

Introduced in R2006a

R2022b: Support for negative price data

The Data input accepts negative prices.

R2018a: Support for matrix, time, or timetable input for data

pointfig accepts Data input as a matrix, timetable, or table.