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Andrews' Pitchfork displays three trend lines that form a pitchfork. The outer two lines form a channel that encloses a middle or median trend line. Trend lines of the pitchfork often mark lines of support or resistance.
The pitchfork is constructed by first selecting a significant extreme point (top or bottom). The second and third points in the future that are selected as extreme points (top or bottom). An imaginary line is drawn from the second and third points. From the first point selected a median trend line is drawn that bisects the imaginary line and is projected into the future. Trend Lines are then drawn from the second and third selected points parallel to the median line, thus creating a channel that resembles a pitchfork with the handle appearing at the first selected point. If the first point is a bottom, try making the second point a top to its right, and the third point a bottom to the right of the second point. The lines are referred to as the tines of the pitchfork.
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- Select the button for the Andrews Pitchfork from the Toolbar.
- Move the mouse pointer over the starting position for the Line. This may be either a high or a low price.
- Press the left mouse button, and keeping it pressed down, drag the mouse pointer to the desired end point and release the left mouse button.
- Finally, drag the mouse pointer to the desired end point and click once more to finish the drawing.
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 The property editor as well as other functions may be accessed by holding the mouse pointer over the indicator line and Clicking the Right Mouse button and a popup menu will appear (see picture).
The user may then open the Indicator Property Editor, move the Line above or below other indicators, hide the tool or delete the Line from the Chart. |
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The property editor as well as other functions may be accessed by holding the mouse pointer over the indicator line and Clicking the Right Mouse button. You can also access the Property Editor directly by 'Double Clicking' on the line. All the drawing tools share the same property editor allowing the user to alter the following properties:
After alteration, the user has the ability to set these settings as default for all future lines drawn on the page. |
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