Andrews Pitchfork (Median Line)

In his original course material on median lines, Alan Andrews refers to their use as "...a law of nature whenever there are fluctuations.". He illustrated this by applying it to temperature changes (1966 - 1977) in Miami.

Can anyone point to any other case studies (non-financial) in which median lines were applied?

I know data can be different...not far off from what you have...this is a 1hr chart.

I found some volume price lines from prior accumulation...FYI

Just wanted to wish you fork traders a wonderful 2012 as the market gets ready to really begin this coming week.

All the best,

FX4

That fork was a beauty Alex C.

FX4

On a webinar a few years back, I heard of it's application being used at some contest in the Chicago area. The contest statistics were plotted on a graph and median lines were used to calculate or forecast possible results. I don't know what the outcome was because the contest was not over at the time of the webinar.

The first pivot was on Aug 29th for the m. s. fork on post #4801.
This regular fork is on the same pivots.

Thanks FX4Newbies.
Happy New Year!
Happy pippin.

Hi folks, here's my long term map on EUR/USD.
Before starting to be seriously short I wanna see the black MPL broken.
Even if the swing low underneath is broken (1.1560-ish), I would be wondering if we have some sort of a wash and rinse, even because as you can see those pink lines carry on their frequency.

Thanks Alex C. here's my chart.

Perhaps you know this, but my comments here are an opportunity to illustrate a subtle point for anyone who doesn't know it already.

* Everyone should be aware that subtle differences in price occur regularly between different brokers. It's one reason why I prefer an ECN feed, so that I get what are hopefully true market prices rather than a possibly-manipulated price by a broker who may be trading against their clients. A few pips spike may serve the broker's (selfish) purpose, but it also will affect the slope of objects if those spikes occurred at the pivots.

* Everyone should realize that a pitchfork drawn on an Hourly chart will have a certain slope and future-price-intercepts. The exact same pitchfork viewed on a Daily chart (same broker, same prices), will have *different* future-price-intercepts. The fact of changing to a Daily chart changes the pitchfork slope ever so slightly. This is not a bug or an error. It is a natural consequence of changing timeframes. The bottom line for forktraders is to keep in mind that touches might be exact on one timeframe but not another -- but usually they are close. (Sometimes PA is right in the middle of the two, as is the case today, illustrated below).

* One of the factors that can cause different price-intercepts is the broker's GMT offset for a Daily 00:00 time. Another is of course, how many hours is the broker open. Mine is open 120 hrs/week. The Daily 00:00 occurs at GMT-5 (which is when NY EST is 00:00). Charts with GMT-5 will print SIX Daily-bars-per-week. (In contrast, Brokers with GMT+2 will usually print exactly FIVE Daily-bars-per-week). You might think that the 5 vs. 6 charts would be very different, but in my experience, the difference is usually small, just a few pips. For the very large spread out Daily forks, it makes very little difference. (If one wants to experiment, you can synthesize any GMT offset using my indicator "P4L PeriodCon.mq4" from another thread).


Today's EU chart shows a very nice touch of a Mod.Schiff LML, as others have already posted charts of the opportunity (which I appreciate as well; thanks!).

Below, I show the Daily chart zoomed out, then a zoom-in of the fork on that same Daily chart, and a zoom-in of the same fork on an H1 chart. Notice that on the Daily, the PA was just shy of a touch. Yet on the H1 chart, it overshot the target by just a few pips. As stated above, this is a natural (normal) consequence of changing timeframes. It's just something to be aware of.

Specifics: The Low on my feed today was 1.26663
The Daily(GMT-5) MS LML intercept for today's bar is at 1.26615 (PA missed touch by 4.8pip)
The H1 MS LML intercept (same MS PF) is at 1.26706 (PA overshot by 4.3pip).

I find it fascinating that the PA Low today was almost exactly halfway between the same Mod.Schiff target but as measured on the Daily chart vs. the H1 chart. (1.266605, which PA missed by 0.25pip!). Regardless of which timeframe it was going to respect today, we are only talking about a difference of 9.1 pips between the two targets. (My charts are a couple hours old, but PA continues to rise. The peak (so far) has been 107.9 pips!)


In terms of opportunity, the bravest might risk a trade right at the LML when it occurred. Check out the M1/M5 charts and you'll see a slight overshot of the HOURLY target, then a 14.8p bounce, then a retest 15p down to the final low. The first bounce proved the target was there. The 2nd, though aggressive, was low-risk Long if one had a tight stop maybe 10pips below (??). There hasn't been another retest opportunity to enter, but if it does occur, that's what PF traders hope for.

As for me, I was with friends this afternoon watching a great football game, so I didn't see the touch on my charts. I was, however, aware of the possibility since Friday after seeing the posts from others. So again, I say thanks to others for spotting such opportunities and taking the time to post them, that we all may benefit.


P.S. The GMT+2 (5-Daily-bars-per-chart) MS LML intercept is 1.26624. Compare that to the GMT-5 (6-Daily-bars-per-week) target of 1.26615. The difference is only 0.9pip, a very trivial difference, so in this example, the fact of using 5-or-6 Daily-bars-per-week was of no consequence whatsoever.

Here's my long out of the hole...booked 70 pips.

Eur/Usd back to the daily's lower median line.

Something to do research about Newton's third law

2 pairs shorted.

Hi NG

Nice Chart. easy to follow. Here is my Euro but the data is maybe different then CME. lets see we can get an reaction.

Eur/Gbp im in negative but this current candle is right at my reversal point as a technique that i learn recently. Lets see its going to reverse or not .

Nice chart

nguyennguyen,

Why do you never have your upper and lower median line parallel visible when you chart?