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

The last 4 options on the MT5 trading software insert menu are:

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

These are symbolized below:

Insert Menu Options on MT5

Andrew's Pitchfork

The Andrew's Pitchfork is plotted between 3 points first point is mid 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. Stocks Price should trend within this channel, if price moves outside of this channel like in example illustrated and explained below the trade should be closed.

Andrew's Pitchfork on MT5

Cycle Lines

Cycle lines are vertical lines plotted at an equal distance representing market trading cycles. To draw these lines a trader selects one continuous trend & draws a line between the high and low of the trend and then this MT5 indicator automatically draws the cycle line, these lines represent market cycles.

Cycle Lines MT5 Indicator

Text and Text Label

As a trader you might 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, choose 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 pop up will appear again & edits can be made on this window.

Text and Text Labels on MT5

From the above example the buy is a text and the 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.