Ahoora Trend Indicator MT4 - Free Download - Best Forex Indicators

Introduction to the Ahoora Trend Indicator

The Ahoora Trend indicator for MT4 is a trend-following gauge providing insights into trend direction, whether it is bullish or bearish. Technical analysis is pretty simple with that forex tool as it works in a similar manner to moving averages.

The Ahoora Trend indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart.

The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

How does it work? How to apply in trading?

The core element of that strategy is the signal line. Depending on the trend direction, it changes its color accordingly.

In short, the green signal line suggests that upward movement is expected. On the other hand, the red signal line suggests considering the downward movement.

Let’s take a look at the charts and then further explanation of trading rules.

Buy Signal

Market sentiment is bullish (price at the right side of chart should be higher than at the left side)
Signal line changes from red to green
Open a long trade after the above requirements are met
Set stop loss a few pips below the most recent market low swing
Take profit when the opposite signal occurs or use your method of trade exit

Sell Signal

Market sentiment is bearish (price at the right side of chart should be lower than at the left side)
Signal line changes from green to red
Open a short trade after the above requirements are met
Set stop loss a few pips above the most recent market high swing
Take profit when the opposite signal occurs or use your method of trade exit

Sideways Market

The best results are achieved during strong market trends, so choppy conditions are unfavorable and should be avoided. Performance during the sideways market is poor. Take a look at the example chart.

Note

Only a basic case of usage is given above. The Ahoora indicator can be utilized in trend-following, scalping, or even trend reversal forex strategies. It’s a good fit for both beginners and advanced forex traders. Despite it was designed as a standalone tool, feel free to use it in conjunction with other technical analysis indicators.

Settings

These are available settings.

How to set up the Ahoora Trend indicator in MetaTrader (MT4)?

Installation Guide

Download the Ahoora Trend.rar archive at the bottom of this post, unpack it, then copy and paste the Ahoora.ex4 or Ahoora.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.

You can gain access to this folder by clicking the top menu options, which goes as follows:

File > Open Data Folder > MQL4 > Indicators (paste here).

Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.

Bottom Line

The Ahoora Trend indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success.

Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions.

Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.