{"id":202104,"date":"2025-02-06T20:43:25","date_gmt":"2025-02-06T20:43:25","guid":{"rendered":"https:\/\/ibkrcampus.eu\/campus\/trading-lessons\/point-and-figure-next-steps-and-continuous-learning\/"},"modified":"2026-03-25T15:17:23","modified_gmt":"2026-03-25T15:17:23","slug":"point-and-figure-next-steps-and-continuous-learning","status":"publish","type":"trading-lessons","link":"https:\/\/www.interactivebrokers.eu\/campus\/trading-lessons\/point-and-figure-next-steps-and-continuous-learning\/","title":{"rendered":"Point and Figure &#8211; Next Steps and Continuous Learning"},"content":{"rendered":"\n<p>Hey everyone, welcome back to our Point &amp; Figure chart series here at Interactive Brokers. This time, we\u2019ll walk you through how to actually set up Point &amp; Figure charts right inside the Trader Workstation (TWS) platform. Let\u2019s jump right in!<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-getting-started\"><br>Getting Started<br><\/h3>\n\n\n\n<p>Open a Chart: Pull up any symbol in TWS, for example, SPY (the S&amp;P 500 ETF).<br>Access the Settings: You can double-click on the X\u2019s and O\u2019s, click the three dots next to the chart, or head to the gear icon to bring up your chart settings.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-box-size\"><br>Box Size<\/h3>\n\n\n\n<p><br>Traditional (Dollar Value): You specify a fixed dollar amount (e.g., $2, $5, etc.). Each time the price moves that amount (in an up or down direction), you print a new X or O.<br>ATR (Average True Range): This automatically adjusts the box size based on how volatile the stock normally is. Great if you\u2019re cycling through various stocks with different price ranges.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-reversal-amount\"><br>Reversal Amount<\/h3>\n\n\n\n<p><br>If you\u2019ve set a box size of $5, for example, and a reversal amount of 3, you need a $15 move in the opposite direction to switch from X\u2019s to O\u2019s (or vice versa).<br>If you\u2019re using ATR, this applies similarly\u2014if the reversal is set to 2 or 3 times the ATR, that\u2019s the threshold needed to flip columns.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-source-close-vs-high-low\"><br><strong>Source (Close vs. High\/Low)<\/strong><\/h3>\n\n\n\n<p><br>Close: The chart updates based on closing price moves.<br>High\/Low: The chart updates when price breaks above the last high or below the last low. This generally prints more X\u2019s\/O\u2019s and can capture more intra-bar moves.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-colors-amp-other-visual-options\"><br><strong>Colors &amp; Other Visual Options<\/strong><\/h3>\n\n\n\n<p><br>Up bars (X\u2019s) can be any color you like, same with down bars (O\u2019s).<br>Projection bars show where the chart might print a new X or O, depending on whether price confirms the move.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-practical-tips-for-choosing-box-size\"><br>Practical Tips for Choosing Box Size<\/h3>\n\n\n\n<p><br><strong>Avoid Too Much Data:<\/strong> If you pick a very large box size on a lower-priced or less volatile stock, you might hardly see any new columns print.<br><strong>Avoid Too Little Data:<\/strong> If your box size is too small for a high-priced or very volatile stock, you\u2019ll get overwhelmed with tiny moves.<br><strong>ATR Method:<\/strong> A great \u201cset it and forget it\u201d approach. ATR-based box sizes automatically scale to the instrument\u2019s volatility.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-why-bother\"><br>Why Bother?<\/h3>\n\n\n\n<p><br>The biggest advantage with Point &amp; Figure is you won\u2019t get stuck reacting to every minor price wiggle. It\u2019s all about meaningful price moves: <\/p>\n\n\n\n<p><strong>Time-Agnostic:<\/strong> Doesn\u2019t matter if it takes a day or a year to print that next X or O\u2014you only see updates when the price moves enough to actually matter.<br><strong>Clear Entries &amp; Exits:<\/strong> Combine your personal bias\u2014whether fundamental, macro, or long-term technical\u2014and let the Point &amp; Figure chart give you a noise-free timing mechanism.<br><strong>Consistent, Simple Settings:<\/strong> Whether you\u2019re setting a manual box size or using ATR, once you find your sweet spot, you\u2019ll know exactly when to step in or step out.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-next-steps\"><br>Next Steps<\/h3>\n\n\n\n<p><br><strong>Experiment:<\/strong> Play around with a couple different box sizes (or ATR values) for each security on your watchlist.<br>Mark Key Levels: Draw trendlines or support\/resistance lines right on your Point &amp; Figure chart.<br>Set Alerts: In TWS, you can also set price alerts, so you\u2019re notified when it\u2019s about to flip from X\u2019s to O\u2019s or vice versa.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Bottom line:<\/strong> Setting up Point &amp; Figure charts in TWS is straightforward\u2014just a few tweaks for box size, reversal amount, and color scheme, and you\u2019re good to go. Once you\u2019ve got it dialed in, you\u2019ll be able to focus on bigger-picture price moves and make more confident trading decisions without all the noise.<\/p>\n\n\n\n<p>Thanks for tuning in, and we\u2019ll see you next time for more tips and techniques on Point &amp; Figure charts here at Interactive Brokers!<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-contributor\">Contributor<\/h3>\n\n\n\n<p>Michael Nauss, CMT<\/p>\n\n\n\n<p>Substack: &nbsp;<a href=\"https:\/\/michaelnausscmt.substack.com\/<\/a><\/p>\n\n\n\n<p>Site:&nbsp; <a href=\"https:\/\/www.statsedgetrading.com\/\">www.statsedgetrading.com<\/a>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hey everyone, welcome back to our Point &amp; Figure chart series here at Interactive Brokers. This time, we\u2019ll walk you through how to actually set up Point &amp; Figure charts right inside the Trader Workstation (TWS) platform. Let\u2019s jump right in! Getting Started Open a Chart: Pull up any symbol in TWS, for example, SPY [&hellip;]<\/p>\n","protected":false},"author":1087,"featured_media":202105,"parent":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"contributors-categories":[2619],"traders-academy":[100,103,89,105],"class_list":{"0":"post-202104","1":"trading-lessons","2":"type-trading-lessons","3":"status-publish","4":"has-post-thumbnail","6":"contributors-categories-stats-edge-trading","7":"traders-academy-beginner-trading","8":"traders-academy-level","9":"traders-academy-stocks","10":"traders-academy-trading-lesson"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Archives | Traders&#039; Academy | IBKR Campus<\/title>\n<meta name=\"description\" content=\"Tips for practicing your new skills on the Interactive Brokers platform\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/trading-lessons\/202104\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Point and Figure - 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