Column XO is an indicator in Prashant Shah's book Trading The Markets The Point & Figure Way. It counts a number of Xs and Os in every column for the length period. Both Xs and Os are calculated separately. Then, both results are divided by half the number of columns which is set by length.
I personally don't find this indicator very useful, because all it can offer is very clear in Point and Figure charts. However, it was designed to give some information on volatility as well as direction.
Thanks for the PnF indicator, possible to code vertical count indicator for PnF?
Daveatt
⋅
Hi there, Thank you for your script I'm not very familiar with PnF charts yet... I apologise for my noob question in advance... I tried using it to count the number of Xs and Os for all the set of Xs/Os on my chart The results that I'm getting are weird and don't match what I see on the chart Is the i_period variable is necessary here to count the Xs in a column of X?
OrcChieftain
⋅
@Daveatt, I suggest you set the period of '1' to test. Also check that box size is aligned with your chart settings.
Thanks for the PnF indicator, possible to code vertical count indicator for PnF?