iCharts Discussions

[hasten]

In svkum's thread many Peoples Drawing irregular lines and calling them pitchfork , I suggest to all those who intrested ,to use Andrew's Pitchfork ,first learn how to draw it properly..... then post your chart for entery ,exit or targets.


In jchart there is no tool for Andrews Pitchfork ,So we have to draw it manually with the help of Fibonacci Retracement.


STEP 1. Choose three alternative, consecutive pivots in price (low, high, low – or – high, low, high) and label them P0, P1, and P2.



Regards, hasten



Champions are not Supernatural. They just fight one more second when everyone else quits.

[hasten]

STEP 2. To find the mid-point between the pivots P1 and P2, Draw Fibonacci Retracement from P1 to P2(start at P1 (0%) and end at P2 (100%)[the 50% line will intersect the line between P1 and P2 at the midpoint].



Regards, hasten



You know my method. It is founded upon the observation of trifles. It is, of course, a trifle, but there is nothing so important as trifles.

[svkum]

HASTEN ,
I am happy that you are extending my idea further,by finetuning the process.[b][/b]

[hasten]

STEP 3. Draw a line from P0 through the midpoint between P1 and P2 and extend the line. This is the Median Line. [During deployment of median line ,you should consider that ,this line should cut the 50% retracement and inclined line of fibonacci at same point ]



Regards, hasten




If you don’t follow the stock market, you are missing some amazing drama.

[hasten]

STEP 4. Remove Fibonacci Retracement From chart .



Regards, hasten



If Your Trading Performance is Good, it's Only Because You Haven't Yet Made it Better!

[hasten]

STEP 5. Draw Trendline lines from P1 to P2.



Regards, hasten



Trading is easy, you don’t need nuthin fancy just buy when it’s going up and sell when it’s going down, that’s all there is to it.

[sherbaaz]

Here comes the basics and the logic. Else all is tukka.

Thanks a lot Hasten.

regds,

[hasten]

[hasten]

Andrews' Pitchfork is a trend channel tool consisting of three lines. The lines formed can help predict channels of support and resistance in a trending market.There is a median trendline in the center with two parallel equidistant trendlines on either side. Parallel Lines are drawn equidistant from the Median Line through the extreme pivots of the retracement swing(from P1 and P2) .[The outer parallel lines can then be placed at the upper and lower pivots to complete the set. ]


STEP 6. To drawing parallel line ( warning line ) ,draw a trendline over median line .




Regards, hasten



Kites rise highest against the wind, not with it.

[hasten]

STEP 7. Move this trendline from median line to P1 (by selecting "move existing objects " in right click ).



Regards, hasten



The "what" (price action) is more important than the "why" (news, earnings, and so on).

[hasten]

STEP 8. To draw lower parallel line ,do the same that we have done in the last step ,draw a trendline over median line and move it to P2 .



Regards, hasten




Don’t let the outcome of one trade alter your trading discipline. One trade doesn’t make a system..

[chetan83]

Dear Hasten Ji,

Going by your method, I tried drawing APF of DAILY DISH TV - 1M, hope you will rectify if there is any error.
Here the Upper TL is broken for the 2nd time, what can be the target here, as it is between the bolinger bands?
Pls enlighten.

Chetan.

[chiragbvyas]

[hasten]

[svkum]

hasten ,
step by step process explained by you is very clear , leaving no doughts.
There shd not be any problem in the mind of followers of APF , in practicing the same .

good job hasten.( you have really obliged me , w/o even my request)