In this video, you will learn how to trade the Andrew's Pitchfork indicator in forex trading. You can use this indicator to find entries both in the direction of the trend and also reversals.
The indicator consists of 3 lines in parallel. They are used to locate support and resistance levels. In an uptrend, you start with a low, high, and then another low to construct 3 parallel lines. In case of a downtrend, you start with a high, low, and then another high.
The idea behind this indicator is that the price tends to move towards the central line. You can use the lower line to enter a long position. You can use the upper line for entering a short position. This indicator works best when the market trends and not in a ranging condition.