P&F scan

kellymf

Hi - does anyone know if there is a way to scan using the closing price for P&F chart? I think the default is high/low

lmkwin

Closing price on a chart is the same on all types of charts including time based charts. How the price is displayed can be different, but the close is the close is the close.

On a P&F chart, there are 2 different methods available for constructing the chart. One is the High/Low and the other is Close Only.

https://school.stockcharts.com/doku.php?id=chart_analysis:pnf_charts:pnf_basics

So a scan of [Close > 99.9] will return a list of securities. Which type of chart you choose to view them on will not change the close.

If your question is about scanning based on alternate PnF construction methods, the answer is not on StockCharts. It would be a wonderful addition. I'd love to be able to scan based on Percentage scale and Close Only prices. In Prashant Shah's recent book on Point and Figure charting, his backtesting section found the most reliably profitable results came from using those two facets of construction.

kellymf

It was geared towards your last paragraph below. I want to scan using the CLOSE, it seems like StockCharts currently only uses high/low for both the predefined P&F alerts they post and within the scan workbench. Are you aware of any other services that offer this?

lmkwin

I believe that Updata may have some of those options but I found it terribly cumbersome to use and didn't renew past the free trial period.

Jeremy DuPlessis says that Updata used to have those options when he worked there/ developed the software. He said that StockCharts is the only other site software he recommends