Counting Method / June 6, 2018 / Ximena Lucas
This is akin to constructing daily and weekly bar charts. For many traders intraday analysis and trading is preferred. The good news is that PnF analysis is a powerful technique for evaluating these smaller time periods. PnF scales down handily from 60 minute to 5 minute data. Only two settings need be changed (StockCharts.com subscription required) to begin generating useful intraday PnF charts in your chosen trading instruments. Under ‘Chart Attributes’ select the period (30 minutes for example). Under ‘Chart Scaling’ select the method; ‘Dynamic (ATR)’. Now you are ready to create intraday PnF charts. The Dynamic (ATR) will use ‘Average True Range’ to calculate the vertical scale that is best for the time frame selected.
In music, counting is a system of regularly occurring sounds that serve to assist with the performance or audition of music by allowing the easy identification of the beat. Commonly, this involves verbally counting the beats in each measure as they occur. In addition to helping to normalize the time taken up by each beat, counting allows easier identification of the beats that are stressed. Counting is most commonly used with rhythm and form and often involves subdivision.