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Pitch Fork Indicator

Pitch Fork Indicator

Pitch Fork is a technical MT4 indicator that novice traders rarely use. Using this pitchfork indicator, traders can identify the possible support and resistance levels.

Rising Pitch Fork indicates the Bullish market, and the falling pitch fork indicates the Bearish market.

The Pitch Fork MT4 Indicator is easy to guess. It forms three lines on the MT4 chart. The top line is the resistance line of the recent price, the middle line is the median line, and the bottom line represents the support level.

Some of the channel indicators in the Pitch Fork system are trend line, equidistant, linear regression, standard deviation, Gann grid, etc.

Trading Rules:

BUY Signal:

The Pitch Fork indicator moves upward, and you should wait until the green arrow crosses upward.

The initial stop loss will be 15 pips or below the entry bar.

You can set the profit target at the medium line of the Pitch Fork.

SELL Signal:

The pitch Fork indicator moves downward, and you should wait until the red arrow crosses downwards.

You can set the profit target at the medium line or 1:15 stop loss.

Remember that if the PitchFork indicator is horizontal, do not trade.

This MT4 indicator works on all timeframes, including M1, M5, M15, H1, H4, D1, W1. Also, it works on the MT4 trading platform.

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