A point & figure chart is a chart that plots day-to-day price movements without taking into consideration the passage of time. Point and figure charts are composed of a number of columns that either consist of a series of stacked X's or O's. A column of X's is used to illustrate a rising price, while O's represent a falling price. This type of chart is used to filter out non-significant price movements, and enables the trader to easily determine critical
support and resistance levels. Traders will place orders when the price moves beyond identified
support/resistance levels.
Read more: Point & Figure Chart Definition | Investopedia
https://www.investopedia.com/terms/p/pointandfigurechart.asp
See also:
https://www.investopedia.com/articles/technical/03/081303.asp
https://en.wikipedia.org/wiki/Point_and_figure_chart
https://stockcharts.com:443/docs/doku.php?id=other-tools:pnf-charts
https://stockcharts.com:443/school/doku.php?id=chart_school:chart_analysis:pnf_charts
