Few know the origins of this indicator. Alan Andrews, the indicator is also known as Schiff andrews pitchfork forex. However, for traders, its history doesn’t matter.
What’s important is to find ways to profitable trade with it. The starting point is to understand this is a different indicator. It is not a trend one. In fact, there is a strong controversy surrounding it. At a closer look, the Andrews Pitchfork has only three lines.
There’s nothing fancy and unusual about it so far. Anyone can draw three parallel lines. The problem comes from their starting point. From where to draw the lines? That’s what the big controversy is about.
Each trend line starts from a pivot point, and Andrews called them P0, P1, and P2. When you apply the Andrews Pitchfork mt4 indicator on a chart, the platform asks you to make three clicks. The first click represents, P0, the second one P1 and the last one P2. They show the Andrews Pitchfork starting point. Some traders use arbitrary places for these pivots. Others, combine them with different trading theories.
This article aims to show the power of the Andrews Pitchfork mt4 indicator and how to use Andrews Pitchfork when trading the Forex market. Furthermore, it will incorporate new ways to think of trading concepts. Introducing the Andrews Pitchfork MT4 Indicator Because of its simplicity, every retail trader has heard of the Andrews Pitchfork tool. After selecting it, traders must make three clicks on a chart.