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Median Line aka Andrews Pitchfork
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Median Line aka Andrews Pitchfork

  #71 (permalink)
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renvik View Post
I just discovered that Pitch Fork is a draw object and not an indicator - Sorry about this.


Yes, you are right just like the Fibonacci tool is a drawing object. If we would not have such a tool available, i mean the Pitchfork, we could still draw such an object by using the Fibonacci tool by keeping the 0, 100 and 50 percent levels visible. The idea is to link two legs on their middle point (50% level) with the line tool and copy/paste the line that join these 50% levels at the 0% and 100% levels of the Fibonacci scale.

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trendisyourfriend View Post
Yes, you are right just like the Fibonacci tool is a drawing object. If we would not have such a tool available, i mean the Pitchfork, we could still draw such an object by using the Fibonacci tool by keeping the 0, 100 and 50 percent levels visible. The idea is to link two legs on their middle point (50% level) with the line tool and copy/paste the line that join these 50% levels at the 0% and 100% levels of the Fibonacci scale.

Do you know of a drawing tool in Ninja to draw the expanding parallel and sliding parallel lines. I think the guys on Market Geometry use Ensign. The expanding parallel tool is pretty slick. I may try the Fib tool and see if that could be useful. I hadn't thought of that.

Mahlon

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RUSSELL 2010-10-05 (YYYY-MM-DD)
http://s1.postimage.org/HfnR9-b470f13e.jpg





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mahlonhersh View Post
Do you know of a drawing tool in Ninja to draw the expanding parallel and sliding parallel lines. I think the guys on Market Geometry use Ensign. The expanding parallel tool is pretty slick. I may try the Fib tool and see if that could be useful. I hadn't thought of that.

Mahlon

Unfortunately, no i don't.

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UPDATE RUSSELL at 12:00 (EST) 2010-10-05:
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UPDATE at 13:30 EST :
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Today's Pitchfork projection for the ES (end of session) 2010-10-05 :
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ES update 2010-10-06 (YYYY-MM-DD)

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Here is my first trial on CL 2010-10-06 end of session:
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Last edited by trendisyourfriend; October 6th, 2010 at 07:17 PM.
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My analysis for the RUSSELL Friday 08 oct., 2010 :
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Last edited by sam028; October 9th, 2010 at 03:29 AM. Reason: oct. I presume, not nov.
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The 80% figure comes originally from Alan Andrews work, but Tim Morge did his own research and came up with similar results. In any case, it's a high probability setup. But the key is properly identifying valid pivots points.


David_R View Post
Thanks, Luke,

I have looked at the trading-naked site quite a lot and that is actually where I saw the median line used in interesting ways. The guy that started that site, NQoos (Jim) did some interesting stuff with the median line where he combines it with other methods such as market profile or fib levels under the confluence setup area.

I also found it interesting that according to Morge a setup based on the pitchfork has and 80% chance of hitting the mid-line as a first target. If that is true it's impressive.

D


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