FTLM STLM Histogram Indicator Download in MetaTrader 5 | Forex Indicator Download - MT4/MT5 Resources

The FTLM STLM Histogram indicator is a specialized tool for technical analysts on the MetaTrader 5 platform, designed to identify the end of price corrections and the return of the main trend of the market.

This indicator plots a momentum histogram and uses oscillator lines to show changes in market direction.

When the color changes from red to green, it indicates the start of a bullish trend; when it changes from green to red, it indicates the start of a bearish trend.

FTLM STLM histogram indicator table

Here are the details of the FTLM STLM Histogram indicator:

Indicators at a glance

The FTLM STLM Histogram indicator displays the strength and direction of positive and negative momentum by plotting colored histograms (red and green).

With this tool, traders can identify major market trends within their trading strategy and detect sustained movement in the direction of the dominant trend at the end of a correction phase, allowing them to enter buy or sell positions.

Bullish Trend

On the Gold 30 minute chart, the FTLM STLM Histogram indicator is applied.

Traders can analyze bullish trends and use histograms and oscillator lines to determine the end of a bearish correction and the beginning of a price return to a major uptrend.

In this case, the color change of the oscillator line from red to green confirms the continuation of the bullish trend and provides a favorable buy signal.

Bearish Trend

On the 30-minute AUDUSD chart, traders can apply the FTLM STLM Histogram indicator and assess momentum and determine the end of a corrective price move by analyzing the main trend.

In this chart, the market is in a bearish trend. When the oscillator line changes from green to red, it signals the end of the bullish correction and the return of the market to the downtrend.

Additionally, the histogram values ​​allow traders to assess momentum strength and trend strength.

FTLM STLM histogram indicator settings

The following are the FTLM STLM histogram indicator settings:

• Count Bars: Set the maximum number of candles to display bars on the chart;
• ALERT: Enable/disable alert when oscillator line changes trend;
• EMAIL: Enable/disable sending alerts to the email when the oscillation line changes trend;
• NOTIFICATION: Enable/disable sending alerts to mobile devices as notifications when the oscillator line changes trend;
• MESSAGE_TIMEOUT: Set the time interval between alert messages;
• MESSAGE_SUBJECT: Define alert topic or custom message.

Conclusion

The FTLM STLM Histogram Indicator is a histogram tool that displays momentum levels and the strength of bullish and bearish trends, allowing traders to analyze price movements step by step.

The indicator provides an oscillating line that identifies the end of a corrective movement through a color change: from green to red when the trend changes from bullish to bearish, and from red to green when the trend changes from bearish to bullish.

Traders can use these color changes as entry signals in the direction of the main trend.