. . .more on Formulas 

See Also:  Point and Figure Charts

. . . more on Charts 

Above is a Daily Candlestick Chart of Adobe (ADBE).  The upper pane shows a PNF Indicator with the preferences below specified.  Each green block represents an 'X', and each red block represents and 'O'.  The lower pane shows the price data overlaid with a time-based PNF Indicator.  The preferences are the same as below except the colors and the "

. . . more on Preferences 

• Box Size - Size of the PNF Boxes.

• Reversal Criteria - Number of boxes needed to cause a reversal.

• Use Highs and Lows - Specifies whether to use only the closing prices of the bar data, or to use the highs, lows, and closing prices.  For more information on data processing, click here.

• Expand Into Traditional Bar Data - This option cause the PNF columns to be expanded or stretched in order to conform with the underlying time-based traditional bar data.  If this option is left unchecked, then the PNF indicator columns will not necessarily match up with the traditional bars.  The feedback in the title bar will indicate the time or date that each PNF column ended.  Checking this box will cause each PNF column to be stretched out over the period of time which was used to create the column.  For instance, in the chart above, you can see that the first green up column lasted 15 days or bars before a reversal occurred.