[isatrader]

I can see what you are saying, however, looking at the data I have seen some thinly traded or very small value stocks move very wildly whereas the larger ones don't.  Care would be needed that these very small thinly traded stocks do not mess up the outcome perhaps?  On the other hand, if they are numerous and fairly random perhaps they cancel, and if a large number move in unison then that is good data?

Not a useful conclusion, just a thought.

Those kinds of micro cap stocks are not really included in the numbers. As only US stocks from the major exchanges with a market cap of above $1million are scanned, and no stocks from the OTC (over the counter market) are included either, where the majority of those kinds of thin stocks are traded. And also the way point and figure charts work is to filter insignificant price movements and noise, as the P&F traditional box scaling method that is used requires bigger percentages moves in the smallest stocks to add a single X. For example a $5 stock uses a 0.5 scale, so to add an X it needs to move 10%. Whereas a $50 stock only needs to move 2% to add an X. See https://stockcharts.com/school/doku.php?...pnf_basics for how it works. But with the traditional box scaling and a 3 box reversal it does a pretty good job of only capturing more significant moves in a stock, and filtering out the rest of the churn. As to get on the daily list the stock needs to have made a P&F double top buy signal or P&F double bottom sell signal.