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Trading and Investment Terms

Andrew's Pitchfork

Andrew's Pitchfork indicator is a tool used for trend trading and also to predict market reversals.

The structure of the Andrews Pitchfork indicator consists of two parallel lines and a median line in the middle.

It helps you identify a channel in which an asset is likely to trade while it is trending up or down. 

Traders use it to predict when an asset's direction is about to change.

Andrew’s Pitchfork also alerts you to market corrections that you can use to time your entry to a trade.

 

Andrew’s Pitchfork also uses trigger lines, which are trend lines that originate from point one and intersect with the other points. 

  1. A lower trigger line connects points one and three, sloping upward on a rising pitchfork. 
  2. An upper trigger line joins points one and two, sloping downward on a falling pitchfork. 

Trading signals generated by the trigger lines typically occur well after price breaks the pitchfork’s upper or lower trend line. 

  •  Breakouts above the upper trigger line suggest further upside
  •  while breakdowns below the lower trigger line predict further downside.

 

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