Hi rajatheroyal,

Welcome to the community.

Point and Figure charting was very popular before computers because it is a much easier way to keep charts by hand than bar and candlestick charts are. Now that pretty much everyone uses computers to analyze charts the time factor is not really an issue anymore.

While they are not as popular as they once were there are still many traders who use Point and Figure charts in their analysis however whether they are "the best of all charting methods" I think is really a matter of preference.

I think most traders would agree that what charting method is the best is what works best for you and the only way to know this is to try a lot of different things and see. So with this in mind I would be wary of anyone that tells you "if you know this type of analysis it is all you need to know" because how do you know if you need to know something or not if you ignore everything besides one particular thing.

You can certainly combine point and figure charting with other types of analysis however point and figure charts have their own methods of analysing patterns which you will need to learn if you wish to use this type of chart. You can think of it this way: point and figure charts give you one view of the market and candlestick charts give you another. When looking at the two charts some of the things you will see will be the same and some will be different.

Here are some resources for those that want to learn more about Point and Figure Charting:

Understanding Point & Figure Charts - StockCharts.com

Point and Figure Charting

Incredible Charts: Point & Figure - Basic Chart Patterns

Point-And-Figure Plus EOTPRO Indicators [Video]

Hope that helps.

Best Regards,
Dave