I love the Andrew's pitchfork, but I'm not a fan of trading based on indicators only. I like to watch them to combine with price action patterns mostly. if I see something which those indicators approve too, I'll get serious!
this andrew fork is drawn based on three major pivots on daily chart and the response price action shows to the lines is really convincing to consider these lines important in future. the overall trend is bullish in my opinion, but you can use these lines to have some more profit trading the fluctuations.
Andrew’s Pitchfork is a technical indicator that uses three parallel trend lines to identify possible levels of support and resistance as well as potential breakout and breakdown levels. The indicator, developed by Alan Andrews, uses trend lines that are created by selecting three points at the start of confirmed trends, higher or lower. (source: investopedia)
this andrew fork is drawn based on three major pivots on daily chart and the response price action shows to the lines is really convincing to consider these lines important in future. the overall trend is bullish in my opinion, but you can use these lines to have some more profit trading the fluctuations.
Andrew’s Pitchfork is a technical indicator that uses three parallel trend lines to identify possible levels of support and resistance as well as potential breakout and breakdown levels. The indicator, developed by Alan Andrews, uses trend lines that are created by selecting three points at the start of confirmed trends, higher or lower. (source: investopedia)
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