MetaTrader 4 Horn Pattern Indicator Download – Free – [Trading Search] – MT4/MT5 Resources

The Horn Pattern indicator is one of the most commonly used tools for MetaTrader 4 indicators for technical analysis of 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.

Speaker mode indicator table

Speaker mode indicator at a glance

The Horn Pattern Indicator (Expanding Triangle) is very useful for detecting trumpet patterns in price charts. This trading tool uses two diverging lines to connect the last three highs and lows at the end of the trend, indicating a large number of buyers or sellers entering the market. After a trumpet pattern is formed, the trend may reverse.

Sell ​​Conditions of the Horn Pattern Indicator

In the chart below, a corner top pattern formed at the end of an uptrend on the 1-hour silver (XAG/USD) chart, indicating a reversal and transition to a downtrend. When the pattern's lower line breaks out, it signals a change in trend and provides an opportunity to enter a sell position.

Buying Conditions for the Horn Pattern Indicator

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

Speaker mode indicator settings

• Zigzag line properties: Zigzag line properties
• Show Zig Zag Line :Set to true to show zigzag line
• Pivot period of the Zig Zag line: The period of the Zig Zag line is set to 2
• Zig Zag Line Style : Displays zigzag lines as a dash-dot
• Zig Zag Line Color: The color of the Zig Zag line is blue (can be customized)
• Zig Zag Line Width: The width of the Zig Zag line is 1
• Horn pattern properties: Horn pattern properties
• Show Horn Pattern: Set to trueShow pattern
• Horn Pattern Color: The color of the horn pattern is dark blue

Conclusion

Classic and chart pattern indicators (horn patterns) are powerful tools in technical analysis that help traders identify potential trading opportunities. You can use this indicator on higher time frames and trade when the overall trend is consistent with the trumpet pattern for greater accuracy.

It is also important to pay attention to the increase in volume during pattern breakouts.