What it draws
A further variant of the Schiff pitchfork that shifts the median origin halfway in both price and time toward the second pivot, producing an even flatter, more centered channel. It is often the best fit for wide, choppy, or sideways-drifting structures.
How to draw it
- Pick Modified Schiff from the left toolbar (Pitchforks group).
- Three points, same sequence as other pitchforks: pivot, then the next swing high and low. The modified origin shift is computed automatically.
How traders use it
- Apply it to grinding or overlapping trends where both the Andrews and standard Schiff forks slope too steeply to touch price.
- Trade rotations between the tines as a quasi-horizontal channel: fade the outer tines toward the median.
- Use median-line behavior to classify the market: repeated median crosses = balanced/rangebound; hugging one tine = directional pressure building.
- Watch for the fork to fail (price leaving through a tine and not returning) as the signal that the range phase is over.
Settings reference
Double-click the drawing (or use its floating toolbar → gear) to open settings:
| Setting | Control | Possible values | Default | Effect |
|---|---|---|---|---|
| Pitchfork Levels | levels-editor | per level: visible checkbox, value (number, step 0.001), color swatch, line style (solid/dashed/dotted), delete; "+ Add Level" appends a new level | 0.25 (hidden), 0.382 (hidden), 0.5, 0.618 (hidden), 0.75 (hidden), 1, 1.5 (hidden), 1.75 (hidden), 2 (hidden) | Defines the parallel level lines drawn either side of the median line — each level’s visibility, multiplier, color and dash pattern is editable, and levels can be added or removed. |
| Color | color | any color (theme color picker) | #05B878 | Color of the median line and level lines. |
| Line Width | select | 1px | 2px | 3px | 4px | 2px | Stroke thickness of the drawing’s lines and outlines. |
| Line Style | select | Solid | Dashed | Dotted | Solid | Dash pattern used for the drawing’s lines. |
| Fill Color | color | any color | #05B878 | Background fill color between the pitchfork level lines. |
| Fill Opacity | slider | 0–100 | 4 | Opacity of the background fill between the level lines. |
| [Tab] Text — Text | checkbox + textarea | on/off, with a multiline text box for the label content | off (on when the drawing already carries text) | Enables an attached text label on the drawing; typing in the box auto-enables it and updates the label live. |
| [Tab] Text — Text Color | color | any color | same as the drawing’s line color | Color of the attached text label. |
| [Tab] Text — Font Size | select | 8, 10, 11, 12, 14, 16, 18, 20, 24, 28, 32, 36, 48, 64, 72 | 14 | Point size of the attached label text. |
| [Tab] Text — Bold | checkbox | on/off (B toggle button) | off | Renders the label in bold. |
| [Tab] Text — Italic | checkbox | on/off (I toggle button) | off | Renders the label in italics. |
| [Tab] Text — Word Wrap | checkbox | on/off | off | Wraps long label text onto multiple lines instead of one long line. |
| [Tab] Text — Text alignment (vertical) | select | Top | Middle | Bottom | Top | Vertical placement of the label relative to the drawing. |
| [Tab] Text — Text alignment (horizontal) | select | Left | Center | Right | Center | Horizontal placement of the label relative to the drawing. |
| [Tab] Coordinates | number + datetime | one row per anchor point: price (number, step 0.05) and local date/time | the drawing’s current anchor values | Edits anchor geometry numerically — changing a point’s price or time moves the drawing live on the chart. |
| [Tab] Visibility | checkbox + number range | interval buckets: Ticks; Seconds 1–59; Minutes 1–59; Hours 1–24; Days 1–366; Weeks 1–52; Months 1–12; Ranges (each bucket has an on/off checkbox, most also a from–to range) | visible on all intervals | Per-timeframe visibility rules — untick a bucket to hide the drawing on those chart resolutions, or narrow the from–to range within a bucket. |
Editing & managing
- Move / adjust: drag the drawing or any anchor handle; magnet mode snaps points to OHLC values.
- Clone / lock / hide / delete from the floating toolbar or right-click menu.
- Templates: save the current style from the settings dialog and reapply it to new drawings.
- Every action is undoable (⌘Z / Ctrl+Z).
Watch out for
- Its flat geometry can disguise a genuine trend as a range — confirm with structure (higher highs/lows) before fading tines in what may be a trending market.