The model Andrew Pitchfork consists of 3 lines, with 3 rays created like the three-pointed tree of Poseidon, the god of the sea according to Greek legend. now represents the couple love of men of the same sex, because his picture is printed on several bottles of cooking oil).

Andrews here is the name of the creator of this tool, Dr. Alan H. Andrews. Scanning the information about him, he knew that he was from a family with his father working in the financial industry, so he enjoyed a good environment since childhood. Growing up, he graduated from Harvard and MIT, both of the top universities in the United States. Later, he invested in and made a lot of money from the methods he researched and applied.

Now we will go to the main part, which is Andrew Pitchfork. First is how to open this indicator on top of our Metatrader 4

Try opening one of the Andrews Pitchfork on the chart for you to see

As you can see, if we want to open it, we have to choose 3 points. After clicking Andrew's Pitchfork, you have to click on the chart in turn at 3 points to appear as shown above.

The main theory behind this Andrew's Pitchfork is that the price will fluctuate in the price channel created by a median line between and two medians above and below. The points selected as 3 vertices to create Andrew's Pitchfork must be 3 swing points, ie reversal points. If the Market makes new swing points, peaks 2 and 3 will usually be adjusted accordingly.

Trading rules with Andrew's Pitchfork
  1. 80% of the time the price will hit the Median Line - the mid lane
  2. When the price hits it, it can either reverse up or down or pass through the median line
  3. If the price fails to break the top or bottom line after crossing the Median Line then it is likely to return to the Median Line.
  4. If the price reverses before hitting the Median Line, there is a high chance it will go in that direction and hit the top or bottom line, in the opposite direction from the Median Line.
  5. If the price breaks above or below it, it is likely to touch the warning line
  6. If the price breaks the warning line, it shows the possibility of it going sideways or starting a new trend
The most common way to trade with Andrew Pitchfork is to trade in a price channel created by the top and bottom edges.

The chart below shows how to plot this 3-pronged tree on the chart. Andrew's Pitchfork creates an uptrend channel and keeps buying at the bottom of the price channel, selling at the top of the price channel

The chart below shows the price failed to return to the median line in the middle, warning signs of a reversal

In general, you can use the Andrews Pitchfork alone or you can combine it with other indicators to increase the effectiveness of this technique.