Trade Bitcoin Trading

Insert Andrews Pitch Fork, Cycle Lines, Text & Text Label on BTCUSD Chart

The last 4 options on the MT4 ==22==bitcoinbtcusd software insert menu are:

  1. Andrews Pitch Fork
  2. Cycle Lines
  3. Text
  4. Text Label

These are shown below:

Insert Andrews Pitch Fork, Cycle Lines, Text & Text Label on MT4

Insert Menu Options in MT4 Platform Software

Andrews Pitchfork

The Andrew's Pitch Fork is drawn between three points first point is mid point of bitcoin price, the next is the upper point of bitcoin price & the third is lower point of bitcoin price. This draws three parallel lines which form a channel. Bitcoin Crypto Currency Price should btcusd trend within this channel, if bitcoin price moves outside signal of the channel like in cryptocurrency example illustrated below the trade should be closed.

Insert Andrew's Pitchfork, Cycle Lines, Text Label on Charts in MT4

Andrew's Pitchfork in the MT4 Platform

Cycle Lines

Cycle lines are vertical lines that are drawn at an equal distance representing the market cycles. To draw these lines a trader chooses/selects one continuous bitcoin trend & draws a line between the high & low of the bitcoin trend & then this MT4 cryptocurrency indicator automatically plots the cycle line, these lines represent the market cycles.

Draw Cycle Lines on Crypto Currency Chart in MetaTrader 4 - How to Read and Interpret MT4 Charts New Traders Guide

Cycle Lines MT4 Indicator

Text & Text Label

As a trader you might want to mark a bitcoin price level on your crypto chart. To do and achieve this you can either use text or text labels, Choose any of this button, select where to place these labels after which a pop-up appears requesting you to input and type in the text of the label. To edit text label double-click on it & then this pop up will appear again & edits can be made from this popup window.

Place Text ==22==and Text Label on Crypto Currency Chart in MT4

Text ==22==and Text Labels on the MetaTrader 4 Platform

From the above illustration the buy is a text & sell is a text label, both aren't much different the only difference is that the specified text will move along with the chart, while the text label is fixed at one point & won't move with the chart.

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