GlossaryAdvanced
Andrews' Pitchfork
A charting tool using three selected points to draw a median trend line flanked by two parallel lines, forming a potential support/resistance channel.
Andrews' Pitchfork, developed by Alan Andrews, is drawn from three selected points on a chart — typically a significant high or low, followed by two subsequent reaction points — forming a median line with two parallel lines extending from the first point, creating a fork-like shape.
The resulting three lines are commonly watched as a projected channel, with price reacting to the median line or either parallel line treated as a potential signal. See Kaavon's dedicated Andrews' Pitchfork article for how the three points are actually chosen.
Examples
- Andrews' Pitchfork's median line is commonly watched as a dynamic support or resistance level as price moves through the projected channel.
- Choosing the three starting points for Andrews' Pitchfork involves real subjective judgment, unlike a purely formula-driven indicator.