Add Andrew's Pitchfork drawing tool.

Andrews' pitchfork is a popular tool of technical analysis. It takes the form of three lines: a median line, plus an upper and a lower line equidistant from it.


How to draw Andrew's Pitchfork:
On selecting the tool the user should pick 3 points on a chart, from the 1st point (anchor) a line is drawn that extends
through and beyond the mid-point between points 2 and 3. This line is called the median line.
From point 2 a line is drawn that is parallel to the median
line.
From point 3 a line is drawn that is parallel to the median line.
Now draw a line connecting point 2 to point 3. That
completes the configuration. (Screenshots 1)


As an extra. The space between the median line and parallel high & low lines may be divided following a Fibonacci ratio measure (retracement from the median line) thus creating the Fibonacci trend lines.

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Upvoters
Status

In review

Board

💡 Feature Request

Date

Over 1 year ago

Author

Ivan

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