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

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

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

These are shown below:

Insert Menu Options in MetaTrader 4

Andrew's Pitchfork

The Andrew's Pitchfork is drawn between 3 points first point is mid point of price, the next is the upper point of price & the third is the lower point of price. This draws Three parallel lines that form a channel. Price should trend within this channel, if price moves outside of this channel like in the trading examples illustrated and described below the trade should be closed.

Andrew's Pitchfork in MT4

Cycle Lines

Cycle lines are vertical lines plotted at an equal distance representing market trading cycles. To plot these lines one selects one continuous trend and draws a line between the high and low of the trend and then this MT4 indicator automatically draws the cycle line, these lines represent market cycles.

Cycle Lines MT4 Technical 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, select where to place these labels after which a popup appears prompting you to put the text of the label. To edit text label double click on it & then this pop up will appear again & edits can be done on this pop up window.

Text & Text Labels in MetaTrader 4

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