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A Point and Figure chart indicator for MetaTrader 5 that draws columns of X for rising price and O for falling price. It filters out time and minor moves so support and resistance are easier to see.
Get one message the moment it launches, with its price.
This indicator draws a Point and Figure chart inside MetaTrader 5. Instead of candles that advance with time, it shows columns of X marks while price rises and columns of O marks while price falls, so the chart moves only when price itself moves enough.
A Point and Figure chart ignores the clock. Price is divided into boxes of a fixed size. As long as price keeps moving in one direction, the indicator adds boxes to the current column. When price moves against the column by a set number of boxes, a new column starts next to it in the opposite symbol. The result is a compact view in which small, insignificant movements are filtered out.
Because time is removed, areas where price stalled or turned tend to stand out as flat rows of columns. Many traders use this view to mark support and resistance and to look for patterns such as double tops and bottoms, flags and wedges. Learning the usual Point and Figure patterns is recommended before relying on the chart, since the indicator draws the data but does not interpret it for you.
To keep the chart tidy, the indicator does not draw a price scale of lines. You can check the price of a box in two ways:
The high and low of each column are also exposed as indicator values, which can be seen in the Data Window.
The indicator can be attached to any symbol available in your MetaTrader 5 terminal, including forex pairs, and it detects 4-digit and 5-digit quote formats automatically. It runs on 5-minute charts and higher. It does not work on timeframes below M5, which is a performance restriction. Box size is set in pips, so check that the value suits the volatility of each symbol you use.
| Parameter | Meaning |
|---|---|
| BoxSizePips | Size of one box in pips. Check the default in the inputs window and adjust it for each symbol. |
| ReverseBoxCount | Number of boxes price must move against the current column before a new column begins. |
| PriceType | High/low (default): highs for up columns and lows for down columns. Close: closing prices for both. |
| IncludeIncompleteBar | Off by default, so the latest unfinished bar is ignored. Turning it on uses that bar and can produce extra columns. |
| UpColor | Colour of the X marks. |
| DownColor | Colour of the O marks. |
This tool only displays information. It does not manage trades, and a clean-looking chart does not make any level or pattern reliable. Larger boxes remove more noise but delay signals, while smaller boxes react faster and show more columns. Test your chosen settings on a demo account before using them with real money.
Trading carries risk, and you can lose some or all of your capital. Past results and historical patterns do not predict future ones.
| Product type | Indicator |
|---|---|
| Platform | MetaTrader 5 |
| Strategy focus | Support and resistance, chart patterns |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Indicator |
| Chart type | Point and Figure (X and O columns) |
| Timeframes | 5 minutes and higher; not for charts below M5 |
| Price types | High/low or close |
| Broker digits | 4-digit and 5-digit quotes detected automatically |
| Trading | Display only; it does not open or close orders |
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No. It only draws a Point and Figure chart on your MetaTrader 5 chart. Any trading decisions, and the orders that follow from them, are made by you.
It works on 5-minute charts and higher. It does not run on timeframes below M5, which is a deliberate limit to keep performance acceptable.
This product is built for MetaTrader 5. It will not load in MetaTrader 4, so check which platform you use before buying.
The indicator does not draw price lines, to keep the chart clean. Hover the mouse over an X or O to see the price of that box, or use the Crosshair tool in the MetaTrader toolbar.
There is no single correct value. Box size depends on the instrument and how much noise you want to remove. Try several values on a demo chart and compare how the columns look against your usual levels.
It detects 4-digit and 5-digit quote formats on its own. Symbols with unusual pip definitions, such as some indices or metals, should be checked on a demo account first.
Point and Figure chart for MT5
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