Colored square boxes are used to draw up and down columns. A new up column is added if the previous high price is exceeded by the current price. Nothing is drawn, if there is neither a new high or low. If a rally is strong enough to form three consecutive up columns, then the low of the last three up columns must be exceeded before a down column is drawn. If a sell-off is strong enough to form three consecutive down columns, then the high of the last three down columns must be exceeded before an up column is drawn. The columns represent support and resistance levels.
Parameters:
Points – number of data points to include in study to configure the new high or low.
Element – Close, High, Low, Open
Adding the Point Break Study to a Chart
- Click on the f(x) Studies docked pane window.
- Click on the plus sign to expand the fx Standard.
- Find the Point Break study, drag and drop it on the chart
Or
- Right-Click on a blank part of the chart and select ADD STUDY.
- Under Data Source, you will find a list of charts and studies in the window. Select the one on which you want the new study to be based.
- Under Studies, select the study you want to add to the window. The library of studies will include standard ProphetX studies plus those that you have created. The Most Recent will include studies that you have previously used.
- Under Add To, select the stack you want to add the study to, or select <New Stack> to create a new stack for the study.
- Click OK to exit.
Changing Parameters
Do either of the following to change the parameters:
- For an existing study on a chart, right-click on the study and select PROPERTIES on the pop-up menu, and modify as necessary.
- Right-click on the study name listed in the f(x) docked pane and make the changes in the displayed dialog. Update will save the parameters permanently.