The Auto Andrews Pitchfork Forex indicator for Metatrader 4 finds important levels of support and resistance and is based on MACD and the Pitchfork.
This indicator will do all the hard work for you and draw all the important support and resistance levels directly on the chart.
Support & resistance levels can be used for both trade entry and exit, as well as for stop loss placement and take profit.
Auto Andrews Pitchfork is a reliable and lightweight technical indicator that won’t slow down your trading platform.
Key Points
- Finds important levels of support & resistance.
- Based on MACD and Pitchfork.
- Easy to use, even for beginners.
- Well worth adding to your indicator collection.
Auto Andrews Pitchfork can work together with any existing trading strategy or system as an additional trading signals indicator.
Free Download
Download the “auto-andrews-pitchfork-indicator.ex4” MT4 indicator
Indicator Chart (EUR/USD H1)
The EUR/USD H1 chart below shows the Trend Continuation indicator in action.
Basic Trading Signals
Signals from the Auto Andrews Pitchfork Forex indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- Open a buy position when price crosses the red middle line bottom-up.
- Set a stop loss below the lower Auto Andrews Pitchfork red line.
- Choose your own take profit method, or simply wait for an opposite sell trading signal.
SELL:
- Open a sell position when price crosses the red middle line top-down.
- Set a stop loss above the upper Auto Andrews Pitchfork red line.
- Choose your own take profit method, or simply wait for an opposite buy trading signal.
Download Now
Download the “auto-andrews-pitchfork-indicator.ex4” MT4 indicator
Adjustable Parameters & Settings
MACD fast EMA period, MACD slow EMA period, MACD signal period, Pitchfork, colors, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Supported currency pairs: Any
Trading Platform: Metatrader 4 (MT4)
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Support & resistance
