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by Jason K. Hutson
Andrews Pitchfork
Position: N/A
Jason K. Hutson
Traders.com Staff Writer. Enjoys trendlines, support and resistance, moving averages, RSI, MACD, ADX, Bollinger bands, parabolic SAR, chart formations, and volume analysis.
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ANDREWS PITCH-FORK
Andrews Pitchfork
04/01/00 01:40:15 AMby Jason K. Hutson
Andrews Pitchfork
Position: N/A
| Alan Andrews developed one such technique, which he called the median line method. The median line method calls for drawing a line from a high or low price level through the median price of a subsequent corrective rally or decline and once that is done, adding parallel lines above and below the median line from the corrective highs and lows. This results in three lines: a long center line (the median line), an upper channel line and a lower channel line. Each line defines potential support or resistance. Because of the shape it makes on a price chart, the median line method soon became known as the Andrews pitchfork. The long center median line resembles a handle, while the two shorter parallel lines are the tines of the pitchfork. |
Traders.com Staff Writer. Enjoys trendlines, support and resistance, moving averages, RSI, MACD, ADX, Bollinger bands, parabolic SAR, chart formations, and volume analysis.
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Date: 03/25/01Rank: 1Comment:
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