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Andrews Pitchfork indicator for MT4

This indicator is designed for automated drawing of Andrews Pitchfork. The Andrews Pitchfork tool is usually drawn according to three main prices of a chart. The method of finding abovementioned prices was developed on the basis of a thorough study and drawing dozens of Andrews Pitchforks. What we offer in this indicator represents a result of our conducted work. This indicator has particular settings and when you change them, the Pitchfork drawing principle stays the same. And changed data will be a signal to draw the next Andrews Pitchfork. At the same time, another important parameter is a distance from resistance/support level. After reaching this level, Pitchfork's lines are considered to be invalid and the indicator will draw a new Andrews Pitchfork.

Traditional employment of Andrews Pitchfork lines - buying on support level and selling on resistance level - will always ensure a good balance of profit and risk.

This indicator can also be used for determining possible future price direction.

The indicator settings

  • UpTrendPitchforkName — upward channel name;
  • UpTrendPitchforkName — downward channel name;
  • minVdis23 — minimum distance between points 2 and 3 of Andrews Pitchfork;
  • maxVdis23 — maximum distance between points 2 and 3 of Andrews Pitchfork;
  • minVdis12 — minimum distance between points 1 and 2 of Andrews Pitchfork;
  • maxVdis 12 — maximum distance between points 1 and 2 of Andrews Pitchfork;
  • breakDown — distance from resistance/support level. After reaching this level, lines are considered to be invalid and the indicator will draw a new Andrews Pitchfork.
Pierre Chatagny
171
Pierre Chatagny 2019.01.19 09:37 
 

Bonjour à tous. J'ai commandé cet indicateur assez dernièrement. C'est encore un peu tôt pour vous dire ce que j'en pense. Par contre, il m'aide clairement à distinguer les tendances. Ce qui est très important pour mon system de trading. Cet indicateur fonctionne très bien et Izzatilla répond rapidement aux messages.

Bien à vous

Pierre

Maksym Mudrakov
20156
Maksym Mudrakov 2016.08.30 19:40 
 

User didn't leave any comment to the rating

Sergey Vasilev
349
Sergey Vasilev 2016.07.08 07:04 
 

User didn't leave any comment to the rating

Adam Pedzik
1223
Adam Pedzik 2015.08.24 12:09 
 

Really nice. Very helpful!

Version 1.1 2015.06.09
version 1.01 - changed the breakDown parameter; breakDown — coefficient calculated basing of the width of Andrews Pitchfork. Used for determining distance from resistance/support level. After reaching this level, lines are considered to be invalid and the indicator will draw a new Andrews Pitchfork.