Insert Andrew's Pitchfork, Cycle Lines, Text and Text Label

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

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

These are shown below:

Insert Menu Options on MetaTrader 4

Andrew's Pitchfork

The Andrew's Pitchfork is drawn between three points first point is the middle point of bitcoin price, the next is the upper point of btcusd price and the third is the lower point of bitcoin price. This draws three parallel lines that form a channel. Bitcoin Price should bitcoin trend within this channel, if btcusd price moves outside of this channel like in the cryptocurrency trading example illustrated below the trade should be closed.

Andrew's Pitchfork on MetaTrader 4

Cycle Lines

Cycle lines are vertical lines drawn at an equal distance representing market cycles. To draw these lines a bitcoin trader selects one continuous bitcoin trend and draws a line between the high and low of the bitcoin trend and then this MT4 cryptocurrency indicator automatically plots the cycle line, these lines represent market cycles.

Cycle Lines MT4 Bitcoin Crypto Indicator

Text and Text Label

As a bitcoin trader you may want to mark a bitcoin price level on your crypto 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 input the text of the label. To edit the text label double click on it and then this popup will appear again and edits can be made on this window.

Text and Text Labels on MetaTrader 4

From the above example the buy is a text and the sell is a text label, both are not much different only that the text will move with the chart, while the text label is fixed at one point and will not move with the chart.