Pitchfork Andrews (Andrew's Pitchfork)

Andrews Pitchfork is one of the popular technical analysis indicators.

It was designed by Alan Andrews. In everyday work, Andrews Pitchforks are an assistant for a trader in determining segments of continuation of trends and counteraction in the foreign exchange market.

It serves as a tool for dividing the main channel into two equally spaced ones.

This allows you to more fully analyze the trend. During an uptrend, the Andrews Pitchfork chart design uses 3 points:

• A significant increase in the trend;
• Significant decrease in trend;
• A common point that serves as the starting point of a trend.

Constructing Andrew's Pitchfork is quite simple; simply use the corresponding tab in the Insert menu in the trading terminal.

It's constructed using the standard price channel : the middle line coincides with the main trend line, and the other two are equally spaced.

The result is two channels that allow you not only to track the trend but also clearly identify correction periods.

If you encounter difficulties while constructing it, you can use the Andrew's Pitchfork indicator ; it's a slightly improved version, but still retains the main lines.