MetaTrader 5 Horn Pattern Indicator Download - Free - [Trading Search] - MT4/MT5 Resources

The Horn Pattern Indicator is one of the MetaTrader 5 indicator that automatically recognizes the Horn Pattern (Expanding Triangle) , one of the frequently repeated patterns in technical analysis , on price charts without the need for human review.

The pattern consists of two blue lines separated from each other. If the price breaks one of the lines, the future trend direction can be predicted. Traders often use this pattern as a reversal pattern .

Speaker mode indicator table

Speaker mode indicator at a glance

The Horn Pattern Indicator (Expanding Triangle) is useful for detecting Horn Pattern in price charts. This trading tool connects the last three highs and lows using two diverging lines at the end of the trend, indicating the entry of large numbers of buyers or sellers. After forming the Horn Pattern , there is an opportunity to trend reversal .

Sell ​​Conditions of the Horn Pattern Indicator

In the image below, the Horn Top Pattern has formed on the GBP/USD chart at the end of the 1-minute uptrend. When the lower line of the pattern is broken, traders can enter and sell orders . The stop loss can be placed at the highest point of the pattern, and the take profit can be set to a distance equal to the depth of the pattern (the distance between the lowest price and the highest price).

Buying Conditions for the Horn Pattern Indicator

In the image below, the Horn Bottom Pattern formed on the USD/JPY chart at the end of the 1-hour downtrend. After the upper line of the pattern is broken, traders can enter the market with buy orders .

Speaker mode indicator settings

• Properties: Properties of the zigzag line
• Show Zig Zag Line: Set to true Show Zig Zag Line
• Pivot period of the Zig Zag line: The period of the Zig Zag line is set to 2
• Zig Zag Line Style: Displays a zigzag line 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

The Horn Pattern Indicator is one of the patterns commonly used in technical analysis . This chart and classic pattern indicator automatically detects and displays reliable patterns on price charts for traders.

In order to select reliable patterns, traders can use other analytical tools such as regular divergence ( RD ) and support and resistance levels .