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Like a bar chart, a point & figure chart plots price on a vertical scale; however, while a bar chart plots prices in a time continuum, point & figure charts plot price only. The "X" symbol is used to record rallies and the "O" to record declines. Each time a trend reverses, a new column is started. You control the sensitivity to trend reversal through choice of "box size" and "reversal" amount. See, Point & Figure Parameters.
