InstaForex

Friday, November 30, 2012

Inside Trade - Skewered For Good


Andrews Median Lines or more popularly known as Andrew's Pitchfork, is a technical indicator which aims to determine the possible support and resistance levels.

The indicator is named that way because a pitchfork like figure will be displayed after it is applied in the platform properly and successfully, skewering the chart with three parallel lines. The three parallel lines which made up this pitchfork are the median, resistance, and support lines.

It is plotted by placing the points on the three most recent peaks or troughs. The first point will extend as the median line while the other two points will interchangeably the support and resistance line depending on the market movement.



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