The second point of the 'handle' allows moving Andrews' Pitchfork in the chart without changing its dimensions. Moving of the 'handle' beginning point will change the direction of 'teeth' only. The second and third pairs of numbers show distance along the time axis and price axis from the 'teeth' to the 'handle' beginning point. The first pair indicates the 'handle' beginning, the first value is always equal to zero (because it is the initial point of the object) the second number indicates the distance between 'teeth'. Additional parameters will be shown near the cursor - three pairs of numbers. After that one should plot the second point of the 'handle' in a chart and holding the mouse button move the cursor thus setting 'teeth' of the pitchfork and signal lines at the necessary distance. To draw Andrews' Pitchfork, one should select this object and then click with the left mouse button in the chart plotting the first point (beginning of the 'handle').

The distance between the median line (continuation of a 'handle') and 'teeth' of the pitchfork. They are drawn at distances proportional to Fibonacci numbers. Signal lines are drawn parallel to 'tines' of the pitchfork. Then, the second and the third trendlines outgoing from the above-mentioned rightmost points (significant peak and trough) are drawn in parallel to the first trendline. The first trend line starts in a selected extreme left point (it is an important peak or trough) and is drawn exactly between two extreme right points. Interpretation of Andrews’ Pitchfork is based on standard rules of interpretation of support and resistance. Request a presentation of MetaTrader 5 for Hedge FundsĪndrews’ Pitchfork is an instrument consisting of three parallel trendlines.Request a presentation of MetaTrader 5 for Brokers.

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