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.

It is quite simple to build Andrews Pitchforks; all you need to do is use the corresponding tab in the Insert menu in the trading terminal.

The construction is carried out according to the usual scheme for constructing price channels , the middle line coincides with the main trend line, the other two should be at an equal distance.

As a result, we get two channels that allow us not only to track the trend, but also to clearly determine the periods when a correction occurs.

If you have difficulties during construction, you can use the Andrews Pitchfork construction indicator , this is a slightly improved version, but the main lines are preserved.