Point and FigureThe Point and Figure study overlays a point and figure chart on top of the current data. As this is a time-independant study, boxes may appear different widths as they adjust to occurences in the data, irrespective of time.
The two configurable elements of the point and figure study determine its behaviour - Box Size, and Reversal. The Box Size indicates how many points take up a single box (an X or an O). Point and Figure always uses full boxes, so a difference in value of half the box size will not draw another box.
The second element is Reversal - this indicates the number of Box Sizes that the signal needs to follow against the current trend, to break that trend. There is more analysis of the Point and Figure charts under this link.
The Point and Figure study stretches to fill whatever data you are currently viewing, and when you either start it or change your viewing frequency (eg from daily to monthly) it will attempt to recalculate itself to the most sensible values for Box Size and Reversal - you can tailor these by clicking the Edit button next to the study and entering the values manually.