Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Nifty Vs Andrew Pitchfork tool

32 sec read


 

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 Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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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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