Auto Andrews Pitchfork indicator MT5
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Auto Andrews Pitchfork indicator MT5
The Auto Andrews Pitchfork indicator MT5 is a specialized technical tool on the MetaTrader 5 platform that automatically plots three equidistant, parallel trendlines by using three selected pivot points (significant highs and lows). These lines serve as evolving zones of support and resistance, providing actionable trade signals when price interacts with them. This tool simultaneously generates two pitchfork patterns—one outlined in dotted lines and the other in bold red lines—highlighting essential price channels dynamically.
«Indicator Installation & User Guide»
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Auto Andrews Pitchfork Indicator Table
| Category | Signal & Forecast – Channel Tools |
| Platform | MetaTrader 5 |
| Skill Level | Beginner |
| Indicator Type | Reversal – Breakout – Trend Following |
| Time Frame | Multi-Timeframe |
| Trading Style | Universal (Scalping, Swing, Day Trading) |
| Markets | Forex – Crypto – Stocks – Commodities |
Indicator Function Overview
While the basic Andrews Pitchfork is accessible by default on MT4 and MT5, the Auto Andrews Pitchfork indicator MT5 automates the drawing process using live chart pivots. This eliminates the need for manual plotting and reduces the chance of inaccuracies when identifying swing points for creating pitchfork structures.
Bullish Signal Example
On the EURAUD 15-minute chart, the indicator selects the latest three relevant pivots (peak–trough–peak) to create a dashed-line pitchfork. Once price retests the median line, a bullish signal is triggered, suggesting a long entry setup aligned with trend continuation.
Bearish Signal Example
In the case of WTI (Crude Oil) on the H1 timeframe, the indicator constructs a pitchfork using the most recent pivot structure (high–low–high). As price interacts with the upper resistance channel, a sell signal is identified, anticipating a potential price decline from that region.
Auto Andrews Pitchfork Indicator Settings
- MACD Fast Period: 26
- MACD Slow Period: 12
- MACD Signal Period: 9
- MACD Price Type: Close
- Pitchfork 1 Color: Red
- Pitchfork 1 Style: Solid
- Pitchfork 1 Width: 2
- Pitchfork 2 Color: Blue
- Pitchfork 2 Style: Dashed
- Pitchfork 2 Width: 1
- Calculation Range: Last 1000 bars
Summary
The Auto Andrews Pitchfork indicator MT5 is ideal for those seeking automated channel-based signal generation. When paired with additional tools—like horizontal support/resistance, price divergence, or higher-timeframe confluence—it can significantly reduce false trade setups and enhance technical decision-making accuracy.
