Point and figure charting has been around for decades now. It was used on the trading floors to quickly chart price movement on old school graph paper. X's would be plotted if the price rose and O's would be marked if prices fell. But then traders started to discover patterns and then trading systems were born. There are many ways to set up a point and figure chart. ie. 1x1, 1x3 and again the best way to figure them out is with old fashion practice. All charts behave and are denominated in different ways some some trial and error is needed when setting up your charts but once you have it right it is a powerful charting method that can yield great rewards.
Example of a point and figure chart
This is a very basic introduction to point and figure charting and explains how to set up the charts. If you are looking for anything more advanced I would recommend Jeremy Du Plessis