The ZCOMFX Daily Trend Metatrader 4 forex indicator shows the trend of up to six currency pairs (EUR/USD, GBP/USD, AUD/USD, USD/CHF, USD/CAD & USD/JPY) within a single chart window.
It is advisable to use the ZCOMFX Daily Trend Indicator on the 1-hour timeframe only due to its use of indicators of the 1-hour chart.
However, if you jump onto other timeframes, then select a “false” value for the variable “ShowArrows.”
It is also possible to show trends for other currency pairs by just deleting any of the symbol values and replacing them with the new ones.
This is so because the ZCOMFX Daily Trend indicator can only take up to six forex pairs at a time.
The ZCOMFX Daily Trend indicator shows bullish (lime colored upward pointing arrow), bearish (red colored downward pointing arrow,) and sideways market (dodger blue right pointing arrow) signals.
Free Download
Download the “zcomfx-daily-trend-indicator.ex4” MT4 indicator
Indicator Chart (EUR/CHF H1)
The EUR/CHF M30 chart below displays the ZCOMFX Daily Trend Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the lime upward pointing arrow of the ZCOMFX Daily Trend Metatrader 4 forex indicator gets positioned somewhat below the price bars.
Sell Signal: Go short when the red downward pointing arrow of the ZCOMFX Daily Trend Metatrader 4 forex indicator gets placed fairly above the candlesticks.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the indicator displays a red downward pointing arrow.
Exit sell trade: Close all sell orders if while a bearish trend is running, the indicator pops up a lime upward pointing arrow.
Tips: Clearly, ZCOMFX is an amazing trend filter that should be deployed as an hourly trend indicator.
MT4 Daily Trend + Pips Hunter Day Trading Strategy
This strategy pairs the ZCOMFX Daily Trend MT4 Indicator with the Pips Hunter MT4 Indicator.
The ZCOMFX indicator displays the daily trend for up to six major currency pairs (EUR/USD, GBP/USD, AUD/USD, USD/CHF, USD/CAD, and USD/JPY) in a single chart window, providing a broad view of underlying momentum.
The Pips Hunter provides precise entry signals with blue arrows for buys and red arrows for sells.
By combining these, you can capitalize on intraday trends in alignment with daily strength, which helps filter out noise and trade with greater confidence.
This strategy works best on intraday timeframes such as M15, M30, and H1 because you rely on the daily trend for filtering and use the Pips Hunter indicator for precise entries.
It is ideal for day traders who prefer structured setups that align short-term entries with broader market direction.
Buy Entry Rules
- The ZCOMFX Daily Trend must show a bullish daily trend for the currency pair you are trading.
- On your intraday chart, wait for the Pips Hunter indicator to print a blue arrow.
- Enter a long position at the close of the candle that prints the blue arrow.
- Place the stop loss below the most recent intraday swing low.
- Set take profit at 1.5 to 2 times the stop loss distance or use a trailing stop.
Sell Entry Rules
- The ZCOMFX Daily Trend must show a bearish daily trend for the pair you are trading.
- Wait for the Pips Hunter indicator to print a red arrow on your intraday timeframe.
- Enter short at the close of the candle with the red arrow.
- Place the stop loss above the nearest intraday swing high.
- Set take profit at 1.5 to 2 times risk, or trail your stop to follow the trend.
Advantages
- Aligns daily trend analysis with precise intraday entries.
- Helps avoid counter-trend trades.
- Clear rules make it easy to follow.
- Works well across all major currency pairs.
- Provides structured stop loss and take profit rules.
Drawbacks
- Fewer signals during sideways or consolidating markets.
- Daily trend changes can reduce the reliability of intraday signals.
- May require monitoring multiple charts if trading several pairs.
Example Case Study 1
On the GBP/USD M30 chart, the ZCOMFX Daily Trend showed a clear bullish daily trend.
Shortly after the London session opened, the Pips Hunter indicator printed a blue arrow.
A long position was opened at the candle close. The stop loss was placed 25 pips below the recent swing low, and the take profit was set at 50 pips.
With strong intraday momentum behind the trade, the take-profit target was reached smoothly.
Example Case Study 2
On the USD/JPY H1 chart, the ZCOMFX indicator displayed a bearish daily trend.
During the early New York session, the Pips Hunter indicator printed a red arrow.
A short trade was opened at the candle close with a 30 pip stop loss above the previous swing high. The take profit target was set at 60 pips.
The pair dropped quickly and reached the profit target within the same session.
Strategy Tips
- Check the ZCOMFX daily trend before every trading session so you always know whether you should focus on buys or sells.
- Allow the Pips Hunter arrow to fully close before entering, as early entries often lead to unnecessary losses.
- If the market moves strongly in your favor, consider locking in profit by moving the stop loss to breakeven.
- When the daily trend is weak or mixed, reduce position size or skip trades until direction becomes clearer.
- Focus on pairs that show clean daily movement because they tend to produce more reliable Pips Hunter signals.
Download Now
Download the “zcomfx-daily-trend-indicator.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (note, symbol1, symbol2, symbol3, symbol4, symbol5, symbol6, ShowArrows, note2, X, Y, Corner), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend filter
