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---bullandbear@xxxxxxxxx wrote:
>
> Hi there, Can you please elaborate what this ela >about can this be
used in intraday trading?
Dr. Alan Andrews developed this technique of drawing a Pitchfork based
upon a Median Line. Dr. Andrews' rules state that the market will do
one of two things as it approaches the Median Line:
1. The market will reverse at the Median Line.
2. The market will trade through the Median Line and head for the
Upper Parallel Line and then reverse.
I believe it can be used on any time frame you like.
Andrews Pitchforks needs three points to be drawn.
You simply ID the swings in an ABC as detailed below
and it will plot the lines.
The big limitation is that you cant really project the lines out into
the future in TS. However, IMHO it is still quite a useful indicator.
I will post a .gif example if someone has a site to post it to.
Picture attachments I have sent don't ever seem to make it to the list.
Below is the text file that goes with the andrewspitchforks .ela
Alan
How to use the AndrewsPitchfork v2 indicator
--------------------------------------------
USAGE
-----
Use the text tool to label swing high/lows with "A", "B" and "C", then
refresh the indicator (clicking "Status" twice causes the indicator to
recalculate). Be sure to put the label above the bar's high for a
swing high, and below the low for a swing low.
You can display other groups of points by using labels "Ax", "Bx" and
"Cx", where 'x' is 1, 2, or 3, e.g. "A3", "B3", "C3".
Note that you can use the pointer tool to move the points anytime.
Then to view the new Pitchfork, refresh the indicator.
TIP - How to Redisplay the lines after changing ABC's
-----------------------------------------------------
Instead of clicking on Status twice, just (1) save the indicator as an
Analysis Template, (2) assign the template to an icon, and (3) putthe
icon on your toolbar. Whenever you change the ABC's, click the
icon and it will move the trendlines to their new locations!
Here are the details about how to do it. Create a new (temporary)
chart,add the ABC's and insert the indicator. Then from the menu,
select File
/ Save Analysis Template. Give it a name and press OK.
This creates the template. Now to assign it to an icon, go to View /
Toolbars and press Customize. Select the icon from "Custom Palette"
that you want to use and double-click it. Pick "Assign Analysis
Template" and
press OK.
Now select the template name you just gave it and press OK. Finally
drag the icon onto the toolbar you want, and press OK, and then press
OK again. This puts the icon on your toolbar.
Now when you want to re-display the lines, just click the icon.
Warning, when you click the icon, all the other studies on the chart
will be deleted. To avoid this, either (1) create a separate chart
that only displays this indicator, or (2) put all the studies together
in the
same Analysis Template. Remember, this tip is a shortcut and isn't
intended to handle all situations.
>
>
> ---- you wrote:
> > Ed & List,
> >
> > Sorry on the attachment.I dont know what the problem was but here is
> > the code you can paste in the PowerEditor.
> >
> > Alan.
> > ###################################################
> >
> > input: TL_Thick(1);
> > { ======================================
> > This is my implementation of some aspects of Andrews Pitchforks. You
> > are welcome to use this code freely. You may redistribute it
provided
> > you include this comment block, plus a description of any changes
you
> > make.
> >
> > If you extend it, or adapt it to other uses, I'd appreciate a look
at
> > what you've done. Thanks.
> >
> > Gregory Wood
> > SwissFranc@xxxxxxxxxxxxxxxx
> >
> > 12/18/96 v1.0 - Initial distribution
> > 01/28/97 v2.0 - Configured for freeware post at
http://www.stenbros.com/
> > ========================================}
> >
> > {
> > USAGE
> >
> > Use the text tool to label swing high/lows with "A", "B" and "C",
then
> > refresh the indicator (clicking "Status" twice causes the
indicator to
> > recalculate). Be sure to put the label above the bar's high for a
> > swing high, and below the low for a swing low.
> >
> > You can display other groups of points by using labels "Ax", "Bx"
and
> > "Cx", where 'x' is 1, 2, or 3, e.g. "A3", "B3", "C3".
> >
> > Note that you can use the pointer tool to move the points anytime.
> > Then to view the new Pitchfork, refresh the indicator.
> >
> > Set MyColor (below) to be the colors for each Pitchfork
> > }
> >
> > if currentbar = 1 then begin { initialize control arrays }
> > array: MyColor[7](0);
> > MyColor[0] = tool_red; { <=========== SET COLORS HERE }
> > MyColor[1] = tool_blue;
> > MyColor[2] = tool_yellow;
> > MyColor[3] = tool_cyan;
> > MyColor[4] = tool_green;
> > MyColor[5] = tool_white;
> > MyColor[6] = tool_darkyellow;
> > array:abc[3](""); { The basic point labels }
> > abc[0] = "A";
> > abc[1] = "B";
> > abc[2] = "C";
> > array:nums[7](""); { The way to distinguish one series of points
> > from another, A-B-C, A1-B1-C1, etc }
> > nums[0] = "";
> > nums[1] = "1";
> > nums[2] = "2";
> > nums[3] = "3";
> > nums[4] = "4";
> > nums[5] = "5";
> > nums[6] = "6";
> > var: inums(7);
> > end;
> >
> > array:dd[3,7](0),tt[3,7](0),vv[3,7](0),bb[3,7](0),hh[3,7](0);
> > var: tft(0), fdd(0), fvv(0), ptt(0), pdd(0), pvv(0), fbb(0), pbb(0),
> > pvv2(0);
> > var: ii(0), jj(0), mm(0);
> > var: handl(0), handlA(0), handlB(0), handlC(0);
> > var: ss("");
> > var: y1(0), y2(0);
> >
> > if currentbar = 1 then begin { examine all the text strings and save
> > some info about the ones we recognize }
> > handl = text_getfirst(2);
> > while handl > 0 begin
> > ss = text_getstring(handl);
> > for ii = 0 to inums - 1 begin
> > for jj = 0 to 2 begin { look for well-formed strings }
> > if ss = abc[jj] + nums[ii] then begin { save the item's
> > date, time, value and handle }
> > tt[jj,ii] = text_gettime(handl);
> > dd[jj,ii] = text_getdate(handl);
> > vv[jj,ii] = text_getvalue(handl);
> > hh[jj,ii] = handl;
> > end;
> > end;
> > end;
> > handl = text_getnext(handl,2); { IMPORTANT -- infinite loop if
> > this is missing! }
> > end;
> > end;
> >
> > for ii = 0 to inums - 1 begin { check each series... }
> > for jj = 0 to 2 begin { check each point }
> > if time = tt[jj,ii] and date = dd[jj,ii] then begin { we've
> > found a selected point }
> > bb[jj,ii] = currentbar; { remember where we found it }
> > if vv[jj,ii] > c then begin { move the label above the bar
> > and center it }
> > vv[jj,ii] = h;
> >
> >
Text_SetLocation(hh[jj,ii],text_GetDate(hh[jj,ii]),text_GetTime(hh[jj,ii]),h);
> > Text_SetStyle(hh[jj,ii],2,1);
> > end else begin { move the label below the bar and center
it }
> > vv[jj,ii] = l;
> >
> >
Text_SetLocation(hh[jj,ii],text_GetDate(hh[jj,ii]),text_GetTime(hh[jj,ii]),l);
> > Text_SetStyle(hh[jj,ii],2,0);
> > end;
> > plot1(vv[jj,ii],"Selection"); { show the user which point
we
> > used for the calculations }
> > if jj = 2 then begin { we're at the third point, generally
> > the Cx }
> > handl =
TL_New(dd[0,ii],tt[0,ii],vv[0,ii],dd[1,ii],tt[1,ii],vv[1,ii]);
> > TL_SetExtLeft(handl,false);
> > TL_SetExtRight(handl,false);
> > TL_SetColor(handl,MyColor[ii]);
> > TL_SetSize(handl, TL_Thick);
> >
> > handl =
TL_New(dd[0,ii],tt[0,ii],vv[0,ii],dd[2,ii],tt[2,ii],vv[2,ii]);
> > TL_SetExtLeft(handl,false);
> > TL_SetExtRight(handl,false);
> > TL_SetColor(handl,MyColor[ii]);
> > TL_SetSize(handl, TL_Thick);
> >
> > fbb = bb[1,ii] / 2 + bb[2,ii] / 2;
> > fvv = vv[1,ii] / 2 + vv[2,ii] / 2;
> > pvv = TLValue(vv[0,ii],bb[0,ii],fvv,fbb,currentbar);
> > handlA =
TL_New(dd[0,ii],tt[0,ii],vv[0,ii],date,time,pvv);
> > TL_SetExtRight(handlA,TRUE);
> > TL_SetColor(handlA,MyColor[ii]);
> > TL_SetSize(handlA, TL_Thick);
> >
> > pvv =
> >
TLValue(vv[1,ii],bb[1,ii],fvv+vv[1,ii]-vv[0,ii],fbb+bb[1,ii]-bb[0,ii],currentbar);
> > handlB =
TL_New(dd[1,ii],tt[1,ii],vv[1,ii],date,time,pvv);
> > TL_SetExtRight(handlB,TRUE);
> > TL_SetColor(handlB, MyColor[ii]);
> > TL_SetSize(handlB, TL_Thick);
> >
> > pvv =
> >
TLValue(vv[0,ii]-(fvv-vv[2,ii]),bb[0,ii]+(bb[2,ii]-fbb),vv[2,ii],bb[2,ii],bb[1,ii]);
> > handlC =
TL_New(dd[1,ii],tt[1,ii],pvv,date,time,vv[2,ii]);
> > TL_SetExtRight(handlC,TRUE);
> > TL_SetColor(handlC, MyColor[ii]);
> > TL_SetSize(handlC, TL_Thick);
> > end;
> > end;
> > end;
> > end;
> >
> >
>
>
> ---------------------------------------------------
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