What it is
The pitchfork was popularised by Dr Alan Andrews. His idea was that price tends to return to the median line, and when it fails to reach it, the trend is weakening.
The three lines form a sloping channel that follows the trend. WickSpeak picks the three points from your swings, so the fork updates as structure develops.
How it is calculated
1. Find swing highs and lows using the swing size setting and take the last three: A, B and C. 2. Find the midpoint between B and C. 3. Draw the median line from A through that midpoint and extend it forward. 4. Draw two lines parallel to it, one through B and one through C. These are the outer tines. 5. A faint line joins B and C.
Settings
| Setting | Default | Range | What it changes |
|---|---|---|---|
| swing size | auto | auto, or a fixed 0.25%, 0.5%, 1%, 2%, 3%, 5%, 8%, 12% or 20% | How big a move must be to count as a swing. It decides which three points anchor the fork. |
How to read it
How to trade it
- 1
Use the fork in the direction of its slope.
- 2
Entry trigger: in a rising fork on gold 1 hour, price touches the lower tine and closes back up.
- 3
Stop: below the lower tine, for example 6 to 12 points on gold 1 hour.
- 4
Target: the median line, then the upper tine if momentum is strong.
- 5
Mirror it for falling forks, selling at the upper tine.
A long at the lower tine is proved wrong if a candle closes clearly below that tine.
WickSpeak draws the median line and both tines on the chart from the last three swings and writes a plain-English reading of where price sits in the fork, how to trade it and what would prove it wrong.
Best markets and timeframes
Works best on 1 hour to daily charts of trending markets such as gold, US30 and NAS100.
Common mistakes
- Using a fork from swings too small for your timeframe.
- Fading the outer line against a strong move through it.
- Keeping an old fork after new swings have changed the structure.
Works well with
Questions traders ask
How do you draw Andrews' Pitchfork?
Pick three swing points. Draw a line from the first through the midpoint of the other two, then two parallel lines through those two points. WickSpeak does this from the last three swings.
What is the median line rule?
Price tends to return to the median line. If it fails to reach it, Andrews saw that as a sign the trend was losing strength.
Is Andrews' Pitchfork a Fibonacci tool?
Not strictly; it is a channel built from swing points. It is often used alongside Fibonacci levels.
Which timeframe is best for pitchforks?
1 hour to daily charts give the most stable forks. On very short charts the anchor points change too quickly.