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 draws all 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.
- 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.
Indicator Example Chart
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:
- 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.
- 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 This Forex 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
How to install the Auto Andrews Pitchfork indicator in Metatrader 4?
- Copy and paste the auto-andrews-pitchfork-indicator.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button