XO Strength

Creator: Definedge

The XO Strength indicator is a point-and-figure chart indicator developed by Prashant Shah.

The indicator is designed using the X, O, and vertical column properties of the Point & Figure chart.

The XO Strength momentum oscillator is plotted on a P&F chart using the number of Xs and Os rather than column prices.

In a P&F chart, an “X” represents a bullish print, while an “O” represents a bearish print.

Based on this property, the XO Strength indicator becomes a momentum indicator for the P&F universe.

When the XO Strength indicator is above its average line, it suggests that the bulls are strong and that the trend is up. When the XO Strength indicator is below its average line, it suggests that the bulls are weak and the trend is bearish.

The indicator table value in TradePoint & RZone also provides you with a list of all values of this indicator for any group of stocks. This will allow you to compare the readings of this indicator across different stocks.

This indicator is also available in the System Builder of RZone & TradePoint. Using the system builder, you can develop various strategies based on the different conditions already present in this indicator. Additionally, it can be used with other indicators or price patterns to develop effective trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.