MetaTrader Indicators > MetaTrader Indicator Alt Pitchfork
MetaTrader Indicator Alt-Pitchfork
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Metatrader Indicator Alt-Pitchfork builds the channel based on the last 2 days extremums (averaging model). It looks like Andrews' Pitchfork. Two baselines connect extremes (high/low) of the previous day and the day before it. The center baseline connects those sections. There are two modes available for the indicator. The default mode is to draw a center line of a channel through middle points of the previous two days' sections. In additional mode a center line of a channel passes through a middle of a center baseline and a middle of a section, which connects extremes of the previous day. Upper and lower boundaries of a channel are drawn through extremes of the previous day in parallel to the center line.
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