Mapping Andrews Pitchforks with Action-Reaction Lines and Lattice Levels
Summary
This indicator extends Andrews Pitchfork analysis with parallel levels, action and reaction lines, a lattice grid, and price-crossing alerts. The user selects three chart pivots, either manually or with an automatic low-high-low or high-low-high orientation. The tool can draw Original, Schiff, or Modified Schiff pitchforks; these variants use different anchor adjustments. Additional settings control parallel lines, forward or backward extensions, and optional price-range filtering.
The lattice feature adds horizontal and vertical guides based on selected pivots and intersections, while alerts can flag crossings of pitchfork, action, reaction, or lattice lines. A logarithmic option changes calculations to support log-scale charts. The document explains the indicator’s functions and customization, but presents no trading rules, performance data, or tests showing that line crossings predict price movement. Its usefulness therefore depends on how a trader interprets the geometry; the script supplies visual references and alerts rather than evidence of an independently validated signal.
Key ideas
- Three selected pivots define the pitchfork’s geometry and orientation.
- Original, Schiff, and Modified Schiff variants differ in how the anchor is positioned.
- Parallel levels, action-reaction lines, and a lattice grid add projected price references.
- Crossing alerts identify when price moves across supported line types.
- The document describes a charting tool but gives no evidence that its lines predict profitable trades.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.