Insert Andrew's Pitch-fork, Cycle Lines, Text & Text Label on Chart

The last 4 options on the MetaTrader 4 xauusd platform insert menu are:

1. Andrew's Pitch-fork
2. Cycle Lines
3. Text
4. Text Label

These are pictured below:

Insert Menu Options on MetaTrader 4

Andrew's Pitchfork

The Andrew's Pitchfork is drawn between three points first point is the middle point of price, the next is the upper point of price & the third is lower point of price. This draws three parallel lines that form a channel. Price should trend within this channel, if price moves outside of this channel like in example shown below the trade should be closed.

Andrew's Pitchfork in MetaTrader 4

Cycle Lines

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

Cycle Lines MT4 Indicator

Text & Text Label

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

Text and Text Labels on MetaTrader 4

From the above example buy is a text and the sell is a text label, both are not much different only that the text will move with the chart, while the text label is fixed at one point and will not move with the chart.