Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

Nifty Vs Andrew Pitchfork tool

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Dr. Alan Andrews developed a channel technique to show areas of support and resistance from a baseline. This use of a median line is the key to using the Andrews Pitchfork. Buying near lows and selling near highs that are identified by the "tines" of the pitchfork. The basic premise is to trade the channel from one level of support or resistance to the next.
 
I had drawn the Andrew Pitchfork trend line for Nifty. The above  two charts shows how andrew pitchfork acts as support/Resistance zone both in the bull and bear market. And how we could find a High profitable trading
oppurtunifty in the market.
 
Here some quick reference available from Corey Rosenbloom's Blog
 
Intresting Convergence to watch at 10500 on Dow Jones

November 5th S&P 500 Update

October 19th Andrews Pitchfork Update

July 28th Andrews Pitchfork Update

 

 

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

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2 Replies to “Nifty Vs Andrew Pitchfork tool”

  1. This is one of the best chart i have seen and this is the first time i have seen Andrews Pitchfork method being used on Nifty chartgreat work !!!

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