Ask Colin

Do you know a subscription website listing Australian shares point and figure charts?

The quick answer is no. The longer answer is that I doubt you will find one. The chart library services that used to operate in Australia have died. They have been killed by charting software which can provide the same product instantly up-to-date and cheaper to buy even though you have to first invest in the charting software.

So, I think your solution is to buy some CHARTING software. Not TRADING software. You will then need a data vendor from whom to download the data daily. The software should cost you about $900 - 1,000 maximum and the data $120 per year if you take it after midnight. You can also get US data.

You need to be careful with charting software for point and figure charts. If you want one box reversal charts, you should first read some of the other answers on Ask Colin/TA/Point and Figure, where I deal with the problems. However, since you refer to Fuller and Dorsey, it sounds as though you are wanting three box reversal charts. For them, there are much wider choices of software.

There is just one other thing to be aware of. That is that the Chartcraft method uses a form of semi-log scaling. Fuller does not. If you are happy with linear scaling, I recommend Insight Trader. It has a side advantage in that one box reversal charts are drawn correctly. However, the main advantage will be that you can set up your own library of charts you are interested in and save those charts. You can then view the updated charts as a slide show (just like a chart book on paper really) any time you want. I suggest you get the demo version from www.insighttrading.com.au and have a play with it to make sure it does what you want. Bernard Chapman would also be happy to help further if you phone him in Sydney office hours on 02 4751 2932.

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