Insert Andrew's Pitch Fork, Cycle Lines, Text & Text Label on Oil Chart

The last 4 options on the MT4 oil software insert menu are:

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

These are shown below:

Insert Menu Options in MT4

Andrew's Pitchfork

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

Andrew's Pitchfork in MT4

Cycle Lines

Cycle lines are vertical lines drawn at an equal distance representing market cycles. To draw these lines a trader selects one continuous trend & draws a line between the high & low of the trend and then this MetaTrader 4 technical indicator automatically plots the cycle line, these lines represent market cycles.

Cycle Lines Meta Trader 4 Technical Indicator

Text & Text Label

As a trader you may want to mark a price level on your crude chart. To do this you can use either the text or text labels, Choose any of this button key, 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 & then this pop up will appear again & edits can be done from this window.

Text & Text Labels in MetaTrader 4

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