Daily Trend Zcomfx Indicator

Daily Trend Zcomfx Indicator

Daily Trend Zcomfx Indicator For MT4 plots trend direction and forex trading signals to buy and sell combining the MACD, EMA, and AO indicators

The daily trend Zcomfx indicator for MT4 identifies the trend direction using multiple technical indicators and provides arrow buy and sell trading signals. It uses the EMA – Exponential moving averages, stochastic indicator and AO – Awesome Oscillator for trend identification. As a result, forex traders get quality forex trading signals in combination of the above indicators.

The indicator works well in all intraday price charts and is suitable for intraday and short term forex trading. Moreover, it is easy to follow and helps new and advanced forex traders to trade profitably.

Daily Trend Zcomfx Indicator For MT4 Trading Signals

The indicator plots green up arrows and red down arrows and blue neutral trend arrows for 6 currency pairs as chosen in the input settings. Furthermore, it plots green up arrow trading signals, red down arrow signals and blue neutral arrows on the price chart. The trading strategy is to enter the markets based on the direction of these arrow trading signals on chart.

If the indicator arrow displays a bullish green arrow, traders should buy and place a stop loss below the previous swing low. The indicator does not have a profit target, so traders should consider booking profits at an opposite trading signal or with a good risk –reward ratio.
Similarly, traders can use this indicator to open sell positions upon the appearance of a red arrow sell signal. It is important to note that the blue horizontal arrow indicates non-trending markets. So, traders should refrain from entering the markets in such conditions.

Conclusion
In summary, the daily trend zcomfx indicator for MT4 plots trend direction of 6 currency pairs. And provides buy and sell forex trading signals for the pairs.