The Aroon Horn Oscillator Metatrader 4 indicator is an easy profit-spinning trend following forex indicator.
The indicator is built to create signals that align with the prevalent market trend and also those of counter-trend market intuition.
It is actually advisable for traders to stick with the trend. This is largely true, because the “Trend is your friend”.
- The Aroon Horn Oscillator indicator offers users a wide array of trading opportunities that grace the activity chart upon activation.
- The Aroon Horn Oscillator indicator is a combination of two oscillator that prints dodger blue and red histograms within its sub-window.
- The indicator gets complimented when in combination with the ADX indicator, by shedding more light on the current trend’s direction.
Feel free to explore the Aroon Horn Oscillator Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Aroon Horn Oscillator Forex Indicator Chart (CAD/JPY M5 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Aroon Horn Oscillator MT4 Indicator
Buy Signal: Go long when the green line of the Aroon Horn Oscillator breaks and stays above the zero-horizontal level, while the blue histograms are seen to also take up positions above the zero-signal level.
When the light sea green ADX Metatrader 4 indicator line surges above the 20.00 horizontal level, while the yellow green DI+ line runs above the wheat DI- line, it is a buy signal confirmation.
Sell Signal: Go short when the green line of the Aroon Horn Oscillator breaks and stays below the zero-horizontal level, while the red histograms are seen to also take up positions below the zero-signal level.
When the light sea green ADX Metatrader 4 indicator line surges above the 20.00 horizontal level, while the wheat DI- line runs above the yellow green DI+ line, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the green line of the Aroon Horn Oscillator indicator dips below the zero-horizontal level. Else, the light sea green ADX indicator line drops below the 20 horizontal level or its wheat DI- line crosses above the yellow green DI+.
Exit sell trade: Close all sell orders if while a bearish trend is running, the green line of the Aroon Horn Oscillator indicator surges above the zero-horizontal level. Else, the light sea green ADX indicator line drops below the 20 horizontal level or its yellow green DI+ line crosses above the wheat DI- line.
Tips: The Aroon Horn Oscillator MT4 Indicator can be used on a wide range of forex trading systems.
Trading opportunities can be generated on all time frames when deploying this indicator.
The indicator clearly combines two oscillators, thus ramping up its market accuracy.
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Aroon Period, filter, count bars.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Oscillator
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.