Point and figure chart
Point and figure chart is a charting technique used in technical analysis, used to attempt to predict financial market prices. Point and figure charting is unique in that it does not plot price against time as all other techniques do. Instead, it plots price against changes in direction by plotting a column of Xu as the price rises and a column of so as the price falls.
45 Degree Trendlines:
Because point and figure charts are plotted on squared paper, 45-degree lines may be used to define up trends and down trends from important highs and lows on the chart allowing objective analysis of trends.