A drawing tool that builds a median line and two parallel tines from three pivots. It maps a trend channel and reads price's pull back toward the center.
Andrews' Pitchfork is a drawing tool that drives three parallel lines into a chart like the prongs of a pitchfork. It was developed by Alan Andrews, an American educator who taught his "median line" method in the mid-20th century.
A normal trendline connects two points (low to low, or high to high). A pitchfork uses three pivots. You take the first point as the handle, then draw a single line toward the midpoint of the other two. That line is the median line. From it, you extend two parallel lines through the back two pivots. One handle, two tines. Hence, a pitchfork.
The claim is simple. Price is drawn back toward the median line, and the two outer tines act as support and resistance. The median line is the axis; the upper and lower tines form the ceiling and floor of a channel. If a trendline draws a single wall, a pitchfork draws the river's current and both of its banks at once.
How to Read
FX:EURUSD
Members Only
Full access is reserved for members of the library.