The Ahoora Trend MT4 forex indicator is a trend following buy/sell signal indicator which is based on moving averages.
Ahoora is pretty easy to trade. It consists of a signal line which changes color from green to red and from red to green.
A green colored Ahoora signal line indicates the trend is upward and it is a signal to buy the currency pair.
Conversely, a red colored Ahoora signal line indicates the trend is downward and it is a signal to sell the currency pair.
Ahoora can be useful as a standalone technical indicator to day traders and scalpers, however it’s recommended to use it together with other technical indicators and/or analysis tools.
The USD/JPY 15-Minute chart below displays the Ahoora Trend Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Ahoora Trend MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade position when the Ahoora Trend indicator changes its line color from red to green (bullish trend).
Sell Signal: Open sell trade position when the Ahoora Trend indicator changes its line color from green to red (bearish trend).
Trade Exit: Close the open buy/sell trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (MA method) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the ahoora-indicator.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)