Introduction to the Aroon Horn Indicator
The Aroon Horn MT4 Forex Indicator is a simple and profitable trend-following forex trading indicator. This tool generates signals both in the direction of the trend and in the counter-trend direction. To get the best results you should trade with the trend only. The trend is your friend, remember?
This indicator gives a lot of trading opportunities on a daily basis because you will notice many crossovers in the oscillator’s lines of the Aroon Horn. To take advantage of these occasions to make money requires a highly disciplined and patient trading approach of yours.
This is a very powerful tool for earning a lot of dollars from the fx market but you need to follow the rules strictly. You can find them below.
The Aroon Horn Indicator is a combination of two oscillators that displays blue and red lines in the separate window below the main trading chart. The crossovers of these two oscillators generate the buy and sell signals. When the blue oscillator crosses above the red oscillator it means a buy signal, and when the red oscillator crosses above the blue oscillator it means a sell signal.
How to trade with the Aroon Horn Indicator?
Open BUY order when following conditions are met:
- Market should be uptrending.
- Blue oscillator crosses above the red oscillator.
- Place your stop loss just below the recent swing low.
- Take profit when you see opposite signal – the red oscillator crosses above the blue oscillator.
Open SELL order when following conditions are met:
- Market should be downtrending.
- Red oscillator crosses above the blue oscillator.
- Place your stop loss just below the recent swing high.
- Take profit when you see opposite signal – the blue oscillator crosses above the blue oscillator.
How to set up the Aroon Horn indicator in MT4?
Copy and paste the –Aroon_Horn—-.ex4 or –Aroon_Horn—-.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.
The Aroon Horn indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, it will provide false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Aroon Horn Indicator Free Download
To download the Aroon Horn for Metatrader 4 (MT4) for free just click the button below: