Horn Pattern Indicator for MetaTrader 4 Download – Free – [Trading Finder]

The Horn Pattern Indicator is a tool for MetaTrader 4 that identifies one of the most commonly used technical analysis patterns on price charts. This pattern, also known as the Expanding Triangle, is used to identify Reversal Points in price trends. The Horn Pattern Indicator automatically detects these expanding triangles on the price chart and displays them using two blue lines.

Horn Pattern Indicator Table

Sell Conditions of the Horn Pattern Indicator

In the image below, the Horn Top Pattern has formed at the end of an uptrend in the 1-hour Silver (XAG/USD) chart, indicating a reversal and transition to a downtrend. When the lower line of the pattern breaks, it signals a trend change and provides an opportunity to enter sell positions.

Buy Conditions of the Horn Pattern Indicator

In the image below, the Horn Bottom Pattern has formed at the end of a downtrend in the 5-minute EUR/USD chart, signaling a reversal and transition to an uptrend. When the upper line of the pattern breaks, it signals a trend change and provides an opportunity to enter buy positions.

Horn Pattern Indicator Settings

• Zig Zag Line Properties: Properties of the Zig Zag Line
• Show Zig Zag Line :Set to true to display the Zig Zag Line
• Pivot Period of Zig Zag Line: The period for the Zig Zag Line is set to 2
• Zig Zag Line Style :Display the Zig Zag Line as a dash-dot
• Zig Zag Line Color: The color of the Zig Zag Line is blue (customizable)
• Zig Zag Line Width: The width of the Zig Zag Line is 1
• Horn Pattern Properties: Properties of the Horn Pattern
• Show Horn Pattern: Set to true to display the pattern
• Horn Pattern Color: The color of the Horn Pattern is dark blue

Summary

The Horn Pattern Indicator is a powerful tool in technical analysis that helps traders identify potential trading opportunities. You can use this indicator on higher timeframes and trade for better accuracy when the overall trend aligns with the Horn Pattern. Paying attention to increased trading volume during pattern breakouts is also essential.