FTLM STLM Histogram Indicator Download in MetaTrader 4 | Forex Indicator Download - MT4/MT5 Resources

The FTLM STLM Histogram Indicator is a useful tool for traders who rely on indicators to identify market trend reversals.

The indicator is designed as a histogram and uses oscillating lines with the help of trading strategy , which visually shows changes in market direction from bullish to bearish and vice versa through color changes.

This tool is available to users on the MetaTrader 4 platform.

FTLM STLM histogram indicator table

Here are the details of the FTLM STLM Histogram indicator:

Indicators at a glance

The FTLM STLM Histogram Indicator is a tool designed specifically for traders who aim to identify reversals based on the main market direction.

With this indicator and technical analysis traders can first identify the dominant trend of the market, and when the price enters the adjustment phase, can predict its return to the main trend.

By using color-changing oscillator lines, this indicator shows trend reversals. When the price changes from bearish to bullish, the line turns green and when the price changes from bullish to bearish, the line turns red.

Bullish Trend

On the 4-hour chart of the USDCAD currency pair, traders can use the FTLM STLM Histogram indicator to identify when the price enters a correction phase during a bullish move and predict its return to the main trend, thus establishing buy positions accordingly.

During a bull market, traders may interpret a change in the histogram color from red to green as a buy signal to enter a trade.

Bearish Trend

On the 30 minute chart of the NZDUSD currency pair, the FTLM STLM Histogram indicator is applied to the chart. This indicator provides traders with a reversal signal by showing the end of the correction phase.

In this chart, the price is in a bearish trend and entering a correction phase, traders can monitor the oscillator lines. If the color changes from green to red, this can be seen as a sign that the market has resumed a major bearish trend, signaling a selling opportunity.

FTLM STLM histogram indicator settings

The following are the FTLM STLM histogram indicator settings:

• Count Bars: Display the maximum number of candles for a histogram 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: alert topic or custom message.

Conclusion

The FTLM STLM Histogram Indicator is a useful tool for traders who wish to identify price action returning from corrective phases back to the main market trend.

The indicator creates a histogram window to show trend momentum and uses oscillation lines to mark market phase transitions.

The oscillator color changes from red to green when the trend changes from bearish to bullish, and from green to red when the trend changes from bullish to bearish.