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Point and Figure charts were invented by Dow (of Dow Jones fame)...

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    Point and Figure charts were invented by Dow (of Dow Jones fame) and were what wall street traders built wealth on before computers.
    My charts use daily high/low prices, 3 point reversal. Updated after market close.
    The rest is propriety. I use different price reference charts for commodity prices, FX, commodity stock prices, bank stocks, etc.
    A guy called Dorsey wrote a nice description of how these charts work.
    http://www.r-5.org/files/books/trading/investment/Thomas_Dorsey-Point_and_Figure_Charting-EN.pdf
    Bullish and bearish support and resistance are key. Double/triple bottoms and tops, higher highs, etc are extremely useful.
    I have ignored most of the interim signals such as catapult and some triangle formations (except consolidation to trend).
    I am able to set target prices which are hit >80% of the time. Stock MUST be in an uptrend.
    Have my own buy and sell signals.

    The X column is rising prices.
    The O column is falling prices.
    Has built-in filtering. Spurious moves are ignored.
    There is NO time basis or frame. The yellow boxes denote the beginning of each month. Months are labelled with hex (1 to C).
    The time taken to hit a target price is mostly dependent on the market cap of the stock.
    It is the most technically simple chart to read when you understand them.
    The charts for oil and gold as commodities are mind-blowing.
    The consolidation patterns for FMG and RSG were magnificent before their >100% runs.

    I could go further as per Dorsey Wright as I already monitor over 550 stocks and update 5 charts for each stock each day.
    Obviously I have automated nearly all of it.

    Finally, this methodology should have some credibility.
    Here is a different type of presentation.
    https://oxlive.dorseywright.com/docs/ClientPresentation_March2015.pdf
    Dorsey Wright are one of the few accredited investment advisors on the NASDAQ site.
    https://www.nasdaq.com/solutions/nasdaq-dorsey-wright

    I hope this has been of some value.

 
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