<s>
Traders	O
used	O
both	O
point	O
charts	O
and	O
figure	O
charts	O
together	O
and	O
referred	O
to	O
them	O
as	O
their	O
point	B-Application
and	I-Application
figure	I-Application
charts	I-Application
,	O
which	O
is	O
where	O
Du	O
Plessis	O
suggests	O
the	O
name	O
point	O
and	O
figure	O
came	O
from	O
.	O
</s>
<s>
Modern	O
point	B-Application
and	I-Application
figure	I-Application
charts	I-Application
are	O
drawn	O
with	O
Xs	O
and	O
Os	O
where	O
columns	O
of	O
Xs	O
are	O
rising	O
prices	O
and	O
columns	O
of	O
Os	O
are	O
falling	O
prices	O
,	O
although	O
many	O
traditionalists	O
such	O
as	O
David	O
Fuller	O
and	O
Louise	O
Yamada	O
still	O
use	O
the	O
Xs	O
only	O
point	O
method	O
of	O
plotting	O
.	O
</s>
<s>
Point	B-Application
and	I-Application
Figure	I-Application
charts	I-Application
are	O
based	O
primarily	O
on	O
price	O
action	O
,	O
not	O
time	O
.	O
</s>
<s>
The	O
correct	O
way	O
to	O
draw	O
a	O
point	B-Application
and	I-Application
figure	I-Application
chart	I-Application
is	O
to	O
plot	O
every	O
price	O
change	O
but	O
practicality	O
has	O
rendered	O
this	O
difficult	O
to	O
do	O
for	O
a	O
large	O
quantity	O
of	O
stocks	O
so	O
many	O
point	O
and	O
figure	O
chartists	O
use	O
the	O
summary	O
prices	O
at	O
the	O
end	O
of	O
each	O
day	O
.	O
</s>
<s>
Because	O
point	B-Application
and	I-Application
figure	I-Application
charts	I-Application
are	O
plotted	O
on	O
squared	O
paper	O
,	O
45	O
degree	O
lines	O
may	O
be	O
used	O
to	O
define	O
up	O
trends	O
and	O
down	O
trends	O
from	O
important	O
highs	O
and	O
lows	O
on	O
the	O
chart	O
allowing	O
objective	O
analysis	O
of	O
trends	O
.	O
</s>
<s>
Also	O
in	O
common	O
usage	O
are	O
two	O
methods	O
of	O
obtaining	O
price	O
targets	O
from	O
point	B-Application
and	I-Application
figure	I-Application
charts	I-Application
.	O
</s>
<s>
In	O
the	O
US	O
,	O
Chartcraft	O
used	O
an	O
IBM	B-Application
S/360	I-Application
in	O
the	O
1960s	O
to	O
produce	O
point	B-Application
and	I-Application
figure	I-Application
charts	I-Application
.	O
</s>
<s>
Point	B-Application
and	I-Application
figure	I-Application
charts	I-Application
were	O
automated	O
in	O
the	O
UK	O
in	O
the	O
early	O
1980s	O
by	O
the	O
Indexia	O
company	O
run	O
by	O
Jeremy	O
Du	O
Plessis	O
.	O
</s>
<s>
This	O
automation	O
increased	O
the	O
popularity	O
and	O
usage	O
of	O
point	B-Application
and	I-Application
figure	I-Application
charts	I-Application
because	O
hundreds	O
of	O
charts	O
could	O
be	O
viewed	O
and	O
altered	O
quickly	O
and	O
easily	O
.	O
</s>
<s>
At	O
the	O
same	O
time	O
a	O
method	O
of	O
log	O
scaling	O
point	B-Application
and	I-Application
figure	I-Application
charts	I-Application
was	O
devised	O
,	O
where	O
the	O
value	O
of	O
the	O
Xs	O
and	O
Os	O
was	O
set	O
to	O
a	O
percentage	O
rather	O
than	O
a	O
price	O
.	O
</s>
<s>
This	O
allowed	O
the	O
sensitivity	O
of	O
Point	B-Application
and	I-Application
Figure	I-Application
charts	I-Application
to	O
remain	O
constant	O
no	O
matter	O
what	O
the	O
price	O
level	O
.	O
</s>
<s>
LeBeau	O
and	O
Lucas	O
also	O
developed	O
computerized	O
point	B-Application
and	I-Application
figure	I-Application
charts	I-Application
in	O
Technical	O
Traders	O
Guide	O
to	O
Computer	O
Analysis	O
of	O
the	O
Futures	O
Markets	O
.	O
</s>
<s>
P&F	O
charts	O
are	O
now	O
widely	O
presented	O
in	O
many	O
trading	O
applications	O
either	O
as	O
a	O
native	O
component	O
or	O
as	O
a	O
third-party	O
plug-in	B-Application
,	O
script	O
,	O
or	O
external	O
technical	O
indicator	O
.	O
</s>
