Andrews Pitchfork

Last modified 21:55, 24 Sep 2012

Andrews Pitchfork

The Andrews Pitchfork is a median line study developed by Dr Alan Andrews consisting of three parallel trend lines – a center trend line and then two parallel channels – which can be used to predict channels of support and resistance in a trending market.

Position and Edit

In order to draw an Andrews Pitchfork the user sets three points.

The first point is the leftmost point where you wish to begin. This is typically the low of a significant trough for a long analysis, or the high of a major peak for a short analysis. Click at that point, and then move the cursor to the next two points, clicking once at each point. The second point for a long market would typically be the next major peak, and the third point being the next significant reversal point - in the case of a long analysis, a major trough.

Three parallel lines will be drawn: a midpoint line bisecting the 2nd and 3rd points, and two lines from the 2nd and 3rd points drawn parallel to the midpoint line. Together these lines will have the appearance of a  "Pitchfork”.

The following is an example of an Andrews Pitchfork applied to a long market:

psandrwsptchfrk.gif

The three lines run parallel to each other, and the stock price tends to move within the parallel lines.

Properties and Format

Double left-mouse click the pitchfork to adjust its Settings and Appearance.

Page statistics
770 view(s) and 2 edit(s)
Social share
Share this page?

Tags

This page has no classifications.

Comments

You must to post a comment.

Attachments