The Forex AO Trend Signal Metatrader 4 indicator is based on the Awesome oscillator and follows the overall currency trend for good profit.
It also includes a filter for better trend trading.
The AO indicator appears in a separate MT4 trading window and oscillates above and below the horizontal neutral level.
The indicator works out of the box and suits beginners and seasoned traders alike.
It can be used as a standalone trend-following indicator or combined with price action strategies.
The buy and sell trading rules are very simple and no further analysis required from your part.
Just load the Forex AO Trend Signal indicator onto the Metatrader 4 chart and start trading with it in minutes.
- Easy to follow buy and sell trend-following histogram indicator.
- Works with the Awesome technical oscillator.
- Does not repaint.
- Can be used as a standalone buy/sell Forex indicator.
Feel free to explore the Forex AO Trend Signal indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (EUR/USD M15 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 Forex AO Trend Signal MT4 Indicator
Buy Signal: Open a buy trade position when the AO trend indicator crosses the 0.00 level upwards.
Set your stop loss 3 pips below short-term support, or use your own favorite stop loss strategy.
Close the buy trade when the indicator crosses back below the 0.00 level.
Alternatively, exit the buy trade for a fixed profit target of your preference.
Sell Signal: Open a sell trade position when the AO trend indicator crosses the 0.00 level downwards.
Set your stop loss 3 pips above short-term resistance, or use your own favorite stop loss strategy.
Close the sell trade when the indicator crosses back above the 0.00 level.
Alternatively, exit the sell trade for a fixed profit target of your preference.
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Colors, width, style.
More Info About This Indicator
Recommended Currency Pairs: any
Trading Platform: MT4
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend histogram
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.