Dr A. Andrews suggested the method of plotting the probable trend and channel lines using the median of triangle, made by the recent three lows and highs. Thus, to estimate the upmoving trend, the chain of low A, high B, and low C is taken, then a beam from the remote low A is traced through the middle of the opposite triangle side BC. Through points B and C two parallel beams in the same direction are constructed. Such lines often correspond to the support and resistance levels.
Image. 1. Andrews Lines on the diagram of Norilskij Nickel Co. share’s prices.
This method is called differently: Andrews Pitch Fork, Median Line method or M.L.R. Lines, or simply Andrews Lines.
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