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Andrews Pitchfork (Median Line)

  • #7,981
  • Oct 5, 2019 5:51am Oct 5, 2019 5:51am
Quoting Gauer
{quote} Moving average, as the name implies, it is just an average of price. The median line is a price projection.
I know it's only an average but the reason I ask if you use the median price as your baseline is that many traders use baseline to determine the direction of their trades. For example someone using a 50 EMA baseline will only buy if the current price is above the 50 EMA and only sell if the current price is below the 50 EMA. The baseline is normally used to filter out potentially bad trades.
  • #7,982
  • Oct 5, 2019 6:59am Oct 5, 2019 6:59am
Quoting Hutch
{quote} I know it's only an average but the reason I ask if you use the median price as your baseline is that many traders use baseline to determine the direction of their trades. For example someone using a 50 EMA baseline will only buy if the current price is above the 50 EMA and only sell if the current price is below the 50 EMA. The baseline is normally used to filter out potentially bad trades.
I see, it is not used like that. Using like that you are always "late to the party". Moving average is a lagging indicator, the pitchfork is a leading "indicator", not the right word because it is a tool for projecting price. For me indicator is something that takes data then spits out other data based on a formula.

You can make a case for taking longs when the pitchfork is sloping upwards and taking shorts and it is sloping downwards.

The median line as the name implies, is that line in the middle, it projects price into the future using three pivots for the projection. Then you have the upper and lower median, which usually catches the frequency of price. When price breaks those standard deviations, then the pitchfork usually done itīs job already and it is time to draw a new one. You are always drawing new ones. You can see that here in this thread a lot of people draw lots of standard deviations (called warning lines), it is not recommended because the further the price gets away from the median line, the less those lines will catch the frequency of price, they become less and less reliable. It is better to draw a new pitchfork then keeping dozens of warning lines.
  • #7,983
  • Oct 7, 2019 12:10pm Oct 7, 2019 12:10pm
Quoting Gauer
{quote} I see, it is not used like that. Using like that you are always "late to the party". Moving average is a lagging indicator, the pitchfork is a leading "indicator", not the right word because it is a tool for projecting price. For me indicator is something that takes data then spits out other data based on a formula. You can make a case for taking longs when the pitchfork is sloping upwards and taking shorts and it is sloping downwards. The median line as the name implies, is that line in the middle, it projects price into the future using...
Thank you very much for the explanation it's the best I ever had.
  • #7,984
  • Oct 14, 2019 5:34am Oct 14, 2019 5:34am
Quoting Gauer
{quote} .... standard deviations (called warning lines), it is not recommended because the further the price gets away from the median line, the less those lines will catch the frequency of price, they become less and less reliable. It is better to draw a new pitchfork then keeping dozens of warning lines.
a good trade to look for is back to centre (the medianline) when price is at warling line extreme
  • #7,985
  • Oct 15, 2019 3:42am Oct 15, 2019 3:42am
What do you think?
Did I do it right?
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  • #7,986
  • Mar 5, 2020 7:28pm Mar 5, 2020 7:28pm
Opposing Lines Of Force Trendline
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #7,987
  • Mar 6, 2020 3:11pm Mar 6, 2020 3:11pm
Quoting kapital
Opposing Lines Of Force Trendline {image}
Congratulations Kapital for the first post of the year
  • #7,988
  • Mar 9, 2020 1:42pm Mar 9, 2020 1:42pm
Quoting Hutch
{quote} Congratulations Kapital for the first post of the year
We must breathe new life into this thread.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #7,989
  • Mar 9, 2020 1:43pm Mar 9, 2020 1:43pm
COINCIDENCE OR CALCULATED???

Dow Jones Weekly
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  • #7,990
  • Mar 12, 2020 6:46pm Mar 12, 2020 6:46pm
BITCOIN DAILY

In this market environment, 4000 (coupled with the Hagopian Line) may be a trigger for further movement to the downside (lower parallel).
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  • #7,991
  • Mar 13, 2020 3:06pm Mar 13, 2020 3:06pm
Quoting kapital
BITCOIN DAILY In this market environment, 4000 (coupled with the Hagopian Line) may be a trigger for further movement to the downside (lower parallel). {image}
Nice analysis however if the market follows up my 1.92 Bitcoin will be worth only 25% of their last month's value.
  • #7,992
  • Mar 13, 2020 9:09pm Mar 13, 2020 9:09pm
Bitcoin daily followup
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  • #7,993
  • Mar 14, 2020 12:54am Mar 14, 2020 12:54am
Quoting justcatalin
Hey Guys Question Should i get back ? I'm so tired of fake ppl I can trade even crypro It's easy Tell me if i have to get back to this online journey ?
With the doji on the USDCAD chatrts it clearly shows that there will be a reversal of trend in the market.
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The success of a successful man is behind the success of a successful frien
  • #7,994
  • Mar 25, 2020 1:04pm Mar 25, 2020 1:04pm
Good strategy

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  • #7,995
  • Apr 26, 2020 9:47am Apr 26, 2020 9:47am
Quoting justcatalin
Hey Guys Question Should i get back ? I'm so tired of fake ppl I can trade even crypro It's easy Tell me if i have to get back to this online journey ?

ABSOLUTELY!
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #7,996
  • Apr 26, 2020 12:50pm Apr 26, 2020 12:50pm
Quoting Slinge
{quote} With the doji on the USDCAD chatrts it clearly shows that there will be a reversal of trend in the market. {image}

EURGBP 07/07/2019:

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Never take anything for granted on the markets and don't be naive for your sake
  • #7,997
  • Edited 2:12pm Aug 21, 2020 1:41pm | Edited 2:12pm
Larry Pesavento talks about pitchforks, Marechal, Babson, Dr. Andrews, and Fisher.

Begin @ 12:20

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  • #7,998
  • Aug 21, 2020 1:57pm Aug 21, 2020 1:57pm
In the first segment of the show, Larry makes further comments about the men in my last post and also W.D. Gann.

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  • #7,999
  • Aug 21, 2020 2:29pm Aug 21, 2020 2:29pm
Larry Pesavento interviews Greg Fisher about his study of median lines/pitchforks.

Begin @ 24:15

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  • #8,000
  • Aug 25, 2020 1:59pm Aug 25, 2020 1:59pm
R.I.P. Timothy Morge. He was the modern-day torchbearer for Andrews Pitchfork and median lines.

https://www.ruffnerwakelin.com/obitu...?obId=17989083
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