My favorite types of charts, I use it daily,
Is extremely useful for detecting changes in long-term trends.
It is used by position and Swing Trader.
Point & Figure charts is drawn from X and O elements
Draw X for uptrend and O elements for downtrens.
Change greater then Box value generates a new element.
Benefits
Removes noise from chart.
Removes the element of time from the process of analysis.
Easier to identify support and resistance levels.
Easier to identify trend lines.
Helped you to focus on long-term trends.
Pip value can be defined in three ways.
As Pip, percent, or ATR.
The indicator was revised and updated