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MetaTrader Indicators > MetaTrader Indicator Alt Pitchfork

MetaTrader Indicator Alt-Pitchfork iticsoftware.com indicators rating: meta trader indicators
 

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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Metatrader 4 Indicator Alt-Pitchfork pic. 1   Metatrader 4 Indicator Alt-Pitchfork pic. 2
 
Please be advised that any financial operations on Forex market maybe profitable and maybe non profitable. Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose.

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Forex trading involves substantial risk of loss and is not suitable for all investors. Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. More over, the leveraged nature of forex trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin requirement, your position may be liquidated and you will be responsible for any resulting losses. To manage exposure, employ risk-reducing strategies such as 'stop-loss' or 'limit' orders. There are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connection. iticsoftware.com (BJF Trading Group) is not responsible for communication failures or delays when trading via the Internet. Any opinions, news, research, analyses, prices, or other information contained on this website are provided as general market commentary, and do not constitute investment advice. iticsoftware.com (BJF Trading Group) is not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. iticsoftware.com (BJF Trading Group) has taken reasonable measures to ensure the accuracy of the information on the website. The content on this website is subject to change at any time without notice. Read full disclosure.

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