Andrews pitchfork indicator.

Andrew's Pitchfork is a well-known graphical technique used in Forex trading. It consists of three lines, the first of which is plotted along significant lows, the second along significant highs, and the third is the beginning of an existing trend.

The Andrews Pitchfork indicator handles all the construction work, making it a great tool for both novice and experienced Forex traders.

Its advanced functionality not only helps you get the job done but also helps you choose the most attractive timeframe for trading.

Download the Andrews Pitchfork indicator.

The default settings allow the script to plot pitchforks simultaneously on all timeframes. A large number of timeframes can sometimes make it difficult to accurately assess the situation, so it's recommended to mark the working timeframe and two adjacent ones—a higher and a lower one.

You'll find instructions for all additional settings in the text file you'll download along with the Andrews' Pitchfork indicator.

The strategy for using this tool is quite simple, as it draws three parallel lines on the currency pair chart, two of which act as support and resistance lines , and the third acts as a landmark. Trading is conducted accordingly.

For example, during an uptrend, buy trades are opened when the price reverses at the lower line and begins an upward movement, and the trade is closed when the price approaches the middle line, which characterizes the trend's inception price.

A breakout trading strategy can also be used , as long as the breakout is counter to the existing trend and is large relative to the trading timeframe.