Pitchfan
A fan of lines from the first swing point, spread out through levels along the line between the second and third points.
What it shows
A pitchfan uses three swing points like a pitchfork. Instead of parallel lines it draws a fan: lines from the first point through the 38.2%, 50% and 61.8% marks of the line between the second and third points.
The result is a set of lines that spread out. Tools differ in the exact levels, so we use the common ones.
How we find it
The same code that draws it on your chart follows these steps, with the same result every time.
- Find three alternating swings A, B, C.
- Draw a line between B and C and mark 38.2%, 50% and 61.8% of the way along it.
- Draw lines from A through each of those marks.
- Extend to the right.
Starting values: Points 3 alternating swings; Levels 38.2%, 50%, 61.8%. These are proposed and will be tuned on real price data before launch.
How to read it
- The three lines show a range of slopes.
- Price that stays above the upper fan line is moving faster than the pattern's average pace.
- Lines that cluster show similar paths. Lines that spread out show a big difference.
Status labels you may see
| Label | What it means |
|---|---|
| Above the fan | Beyond the steepest line. |
| Inside the fan | Between two of the lines. |
| Below the fan | Under the flattest line. |
What cancels it
A close below the lowest line.
What traders check next
- Which fan line price last touched.
- Whether the lines match other levels.
- Whether the pitchfork version looks similar.
Limits
- Platforms differ in how they build it.
- The result depends on three chosen points.
- Like all fans, it is a visual aid, not a statistical fit.
Try it in forecastviz
- Open any ticker and choose Trendlines and channels → Pitchfan in the left menu.
- Switch between 6M, 1Y, 3Y to see how the picture changes.
- Compare with Andrews pitchfork and Schiff pitchfork on the same chart.
Questions
How is it different from a fan?
A fan starts from a swing low and a swing high. A pitchfan uses three points.
How is it different from a pitchfork?
A pitchfork has parallel lines. A pitchfan spreads out.
Related trends
Further reading
- Murphy, Technical Analysis of the Financial Markets
- Edwards and Magee, Technical Analysis of Stock Trends
Educational only. Not financial advice, and not a price forecast. Charts are drawn by code from past price data, which may be delayed.