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-   -   Andrews Pitchfork (Median Line) (https://www.forexfactory.com/showthread.php?t=76597)

Winston Reed Mar 18, 2017 12:53pm | Post# 7801

love you guys, we are all one team who believe pitchforks work like charm! tim morge brought me to believe in power of median lines/pitchfork. Guys, i've come across some great indicators for pitchfork/median line / channels, let me share them with you..only golden stuff!! no need to thank me, lets build a killer system. outta these.. also if you have any indicators that automatically draw pitchfork/channels/trendlines or such please share also.. {file} {file} {file} {file} {file} {file} {file} {file} {file} {file}
Drawing median lines should really be based on careful analysis of the price action. Consideration of swings (swing highs, lows and those with confirmed highs and lows) being just one but perhaps the most important. Indicators will not think about the price action for you but they will draw forks that often are quite meaningless. It is highly recommended to avoid such indicators as they will often draw bogus forks. On the other hand if the indicator merely adds items such as warning lines or 50% levels and such after YOU have determined the proper H,L,H or L,H,L then this may be helpful.

Winston Reed Mar 18, 2017 1:21pm | Post# 7802

2 Attachment(s)
A typically drawn fork using a regional L,H,L. It's rather steep and doesn't capture future price action.
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Point C could be moved over a bit to L1 and now the fork captures price action quiet well. But to me this is "curve-fitting" the fork or forcing it to work. Yes it looks good and in fact some may make this work for them. For me however it is incorrect.
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Winston Reed Mar 18, 2017 1:28pm | Post# 7803

2 Attachment(s)
By identifying relevant swings that are similar sized we can more correctly draw functional forks.
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GoopFX Mar 19, 2017 9:54am | Post# 7804

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{quote} Drawing median lines should really be based on careful analysis of the price action. Consideration of swings (swing highs, lows and those with confirmed highs and lows) being just one but perhaps the most important. Indicators will not think about the price action for you but they will draw forks that often are quite meaningless. It is highly recommended to avoid such indicators as they will often draw bogus forks. On the other hand if the indicator merely adds items such as warning lines or 50% levels and such after YOU have determined...

definately you are right... pitchforks very are sensitive similar to trendlines (we gotta connect swing highs n lows) n indicators i posted, i did so after research. I also noticed they do taking into consideration swingpoints.

lot of times we dont trade crosses, i noticed using CM strength indicator (see attached) allows us to see strongest pair/weakest currency of the day and allows us to quickly form pitchfork with the indicators i posted.. i have created a template for pitchforks so soon as i see one currency strongest vs. weakest, i apply my pitchforks template bang i know this pair is 20 pips away from median line or something...or its bouncing off median line.. so utilize this indicator..

I cant create new threads to be able to do that, it says i need to be high influence user..not sure how i become that, but i really want to share what i know to help others.
CM Strength.mq4

Hkr-wck Apr 9, 2017 9:31am | Post# 7805

{quote} definately you are right... pitchforks very are sensitive similar to trendlines (we gotta connect swing highs n lows) n indicators i posted, i did so after research. I also noticed they do taking into consideration swingpoints. lot of times we dont trade crosses, i noticed using CM strength indicator (see attached) allows us to see strongest pair/weakest currency of the day and allows us to quickly form pitchfork with the indicators i posted.. i have created a template for pitchforks so soon as i see one currency strongest vs. weakest, i...
You can briefly and clearly write how you use the CM Strength indicator?

GoopFX Apr 9, 2017 11:23am | Post# 7806

2 Attachment(s)
{quote} You can briefly and clearly write how you use the CM Strength indicator?
hey dude, yea actually you wanna download the updated version which i am attaching in this post. Basically it tells u while in market which base currency is strongest n which weakest. So that you dont get into buying the weakest link which market is selling. It's a nice tool to have, its not about signals its prevents u from buying the "wrong" currency like there are times a currency just wont bounce from key level.. its likely becuz its the weakest link for the day.. n this tool helps u identify it. Higher the number higher the strength, the max i seen is like 8.0 on a pair but ya useful tool and good thing is its not lagging indicator, its informative data one needs to make good decisions.
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CM_Strength_TF_V1.mq4

Hkr-wck Apr 9, 2017 2:52pm | Post# 7807

Thanks a lot.
What do currency colors mean?

Hkr-wck Apr 10, 2017 5:29am | Post# 7808

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Can you point out what these options mean?
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GoopFX Apr 10, 2017 7:00am | Post# 7809

Can you point out what these options mean? {image}
240 = 4Hour time frame <-- best trend time frame (personal opinion)
if you want you can change time frame you can change it to 60 for 1Hour time frame.. 1440 for daily time frame etc etc.

period is 3 (last 3 candles of 4hour's price action) showing which currency is strong/weak.

Colors representation
green = bullish
yellow = undecided(mix)
red = bearish

basically u wanna concentrate on Green/Red color..strong/weakest.. other colors represent mixbag.

Hkr-wck Apr 10, 2017 11:10am | Post# 7810

Thank's

paulselvan Apr 10, 2017 11:18am | Post# 7811

{quote} hey dude, yea actually you wanna download the updated version which i am attaching in this post. Basically it tells u while in market which base currency is strongest n which weakest. So that you dont get into buying the weakest link which market is selling. It's a nice tool to have, its not about signals its prevents u from buying the "wrong" currency like there are times a currency just wont bounce from key level.. its likely becuz its the weakest link for the day.. n this tool helps u identify it. Higher the number higher the strength,...
Thanks GoopFx

paulselvan Apr 10, 2017 11:25am | Post# 7812

By identifying relevant swings that are similar sized we can more correctly draw functional forks. {image} {image}
nice technic to draw forks

GoopFX Apr 16, 2017 8:59pm | Post# 7813

1 Attachment(s)
another pitchfork drawing tool my friends..i think the best one displays on H4 time frame, enjoy
PitchFork_A.ex4

GoopFX Apr 18, 2017 10:45am | Post# 7814

My median line friends i didnot forget ye.. an amazing pitchfork(assistant) indicator found goes by the name Snorm Pitchfork download it from owner's site (owners request to not just share it peer 2 peer but to visit his site n download it free) so please respect the owner n download this great andrew pitch fork assistant tool/script

visit http://www.for-exe.com/mt4-free-indi...--scripts.html (site has some other nice indicators too chk em out)

CTRL +F snorm pitchfork and enjoy..

note: you gotta draw the initial pithfork n drag drop indicator like as if its a script) n bang it draw some nice parallels. (schiff forks) on fib levels.

kain775 Apr 18, 2017 9:25pm | Post# 7815

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Seems like there's a lot of convergence in this area, 2 median lines, a warning line, and also the 32.8% fib and the 61.8% fib [which I have not drawn in]

let's see how it turns out,

probably I will move my TP if it gets that far because I think it will go further
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kain775 Apr 19, 2017 3:20am | Post# 7816

Seems like there's a lot of convergence in this area, 2 median lines, a warning line, and also the 32.8% fib and the 61.8% fib [which I have not drawn in] let's see how it turns out, probably I will move my TP if it gets that far because I think it will go further {image}

*shrugs*

price reversed and went through the convergence...

paulselvan Apr 19, 2017 8:30am | Post# 7817

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If Double Top is active , Crudeoil H4 can follow red bearish pitchfork
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Winston Reed Apr 19, 2017 9:20am | Post# 7818

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Forks and Fibs are nothing but lines describing overall what price is doing. Relying on them as triggers for trade entries in the long term will probably be frustrating. Price has been bouncing between the lower median line and center line and washed/rinsed April 14 and continued up forming a "V" structure which is important for future trading. After the wash/rinse price "swapped" a few times (white boxes) and may have provided a few buys depending on one's entry strategy.
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paulselvan Apr 19, 2017 12:20pm | Post# 7819

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...bearish trend on progress

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paulselvan Apr 19, 2017 12:36pm | Post# 7820

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...have to take decision
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