Trade Forex Trading

Learn Forex Trading Online Free Tutorials

Insert Andrews Pitchfork, Cycle Lines, Text and Text Label

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



  1. Andrews Pitchfork
  2. Cycle Lines
  3. Text
  4. Text Label


These are shown below:

Insert Andrews Pitchfork, Forex Trading Chart Cycle Lines, Forex Chart Text and Text Label on MetaTrader 4 Forex Trading Platform - Insert Andrews Pitchfork, Cycle Lines, Text Label on MT4 Forex Platform - Insert Menu Options - Insert Menu Options on MetaTrader 4 Forex Platform - MT4 Platform Insert Chart Tools Menu

Insert Menu Options on MetaTrader 4 Online Forex Trading Platform


Andrews Pitchfork

The Andrews Pitchfork is drawn between three points first point is the middle point of price, the next is the upper point of price and the third is the 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 the example below the trade should be closed.

Andrews Pitchfork on Forex Trading Chart in MetaTrader 4 Forex Trading Platform - How to Insert Andrews Pitchfork on MetaTrader 4 Forex Trading Software - Insert Andrews Pitchfork, Cycle Lines, Text Label on MT4 Forex Platform - Insert Menu Options - Insert Menu Options on MT4 Forex Platform - MT4 Platform Insert Chart Tools Menu

Andrews Pitchfork on MetaTrader 4 Forex Trading Software



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 and draws a line between the high and low of the trend and then this MT4 indicator automatically plots the cycle line, these lines represent market cycles.

Draw Cycle Lines on Forex Chart in MetaTrader 4 Forex Trading Platform - Insert Andrews Pitchfork, Cycle Lines, Text Label on MetaTrader 4 Forex Trading Platform - Insert Menu Options - Insert Menu Options on MetaTrader 4 Forex Platform - MetaTrader 4 Platform Insert Chart Tools Menu

Cycle Lines MT4 Indicator



Text and Text Label

As a trader you may want to mark a price level on your Forex trading 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 popup appears prompting you to input the text of the label. To edit the text label double click on it and then this popup will appear again and edits can be made on this window.

Place Text and Text Label on Forex Chart in MetaTrader 4 Forex Trading Platform - Insert Andrews Pitchfork, Cycle Lines, Text Label on MT4 Forex Platform - Insert Menu Options - Insert Menu Options on MT4 Forex Platform - MetaTrader 4 Platform Insert Chart Tools Menu

Text and Text Labels on MT4 Forex Trading Software


From the above example the 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.

 

MetaTrader 4 Tutorial