Andrew’s Pitchfork: 3 Steps Traders Take To Use This Analysis Tool

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Andrew's Pitchfork, otherwise known as median line studies utilizes the concepts of support, resistance, and retracements (see: Support & Resistance).

As is visually depicted below, Andrew's Pitchfork consists of:

  • Handle
  • Resistance Trendline “tine”
  • Median Line
  • Support Trendline “tine”

andrew's pitchfork or median lines resistance support and tines

Steps to creating a Pitchfork

  1. Find a significant pivot or retracement (in the chart above, the lower left corner)
  2. Find the next significant pivot or retracement (the dotted blue line connects the first pivot to this second pivot)
  3. Find the next retracement (in the chart above, the solid blue line starting from the left and going down to the right)

Charting software finishes the pitchfork by creating the upper resistance “tine”, the lower support “tine”, and the median line.

Note: “tine” is the terminology used by the creator of Andrew's Pitchfork, Dr. Alan Andrews.

Interpreting Andrew's Pitchfork

The same rules for support and resistance apply to Andrew's Pitchfork. Traders might consider buying at support and look to sell at resistance (see: Support & Resistance).

Also, prices are thought to gravitate towards the median line as depicted in the chart above of the S&P 500 exchange traded fund.

The chart above shows the long-term view (1 year 6 months) of the stock market; however, Andrew's Pitchfork can be used for shorter time frames.

The information above is for informational and entertainment purposes only and does not constitute trading advice or a solicitation to buy or sell any stock, option, future, commodity, or forex product. Past performance is not necessarily an indication of future performance. Trading is inherently risky. shall not be liable for any special or consequential damages that result from the use of or the inability to use, the materials and information provided by this site. See full disclaimer.

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