Insert Andrew's Pitchfork, Cycle Lines, Text and Text Label on Chart

The last 4 options on the MT4 Forex platform insert menu are:

1. Andrew's Pitchfork
2. Cycle Lines
3. Text
4. Text Label

These are shown below:

Insert Menu Options in MetaTrader 4 Online Platform

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 and third is lower point of price. This draws 3 parallel lines that form a channel. Price should trend within this channel, if price moves outside of this channel like in example below the trade should be closed.

Andrew's Pitchfork in Meta Trader 4

Cycle Lines

Cycle lines are vertical lines drawn at an equal distance representing market trading cycles. To draw these lines one selects one continuous trend and draws a line between the high and 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 and Text Label

As a trader you might want to mark a price level on your trading chart. To do this you can use either the text or text labels, Choose any of this button key, choose where to place these labels after which a popup appears prompting you to type the text of the label. To edit the text label double click on it & then this pop up will appear again & edits can be done from this pop up window.

Text and Text Labels in Meta Trader 4

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