FTLM STLM Histogram Indicator in MetaTrader 4 Download

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

This indicator is designed as a histogram and, with the help of a trading strategy using an oscillator line, it visually displays market direction changes 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

Below are the details of the FTLM STLM Histogram Indicator:

Indicator at a glance

The FTLM STLM Histogram Indicator is a specialized tool 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 a corrective phase, they can predict its return to the main trend.

By using a color-changing oscillator line, the indicator displays trend reversals. When the price shifts from bearish to bullish, the line turns green, and when it shifts from bullish to bearish, the line turns red.

Bullish Trend

On the 4-hour chart of the USDCAD pair, traders can use the FTLM STLM Histogram Indicator to identify when the price enters a corrective phase during a bullish move and anticipate its return to the main trend, entering buy positions accordingly.

Traders may interpret the histogram color change from red to green during a bullish market as a buy signal to enter trades.

Bearish Trend

On the 30-minute chart of the NZDUSD pair, the FTLM STLM Histogram Indicator is applied to the chart. This indicator provides traders with reversal signals by displaying the end of corrective phases.

In this chart, the price is in a bearish trend, and after entering a corrective phase, traders can monitor the oscillator line. If the color changes from green to red, this can be considered as a sign of the market resuming its main bearish trend, signaling a sell opportunity.

FTLM STLM Histogram Indicator Settings

Below are the FTLM STLM Histogram Indicator settings:

• Count Bars: Maximum number of candles to display the histogram on the chart;
• ALERT: Enable/disable alerts when the oscillator line changes trend;
• EMAIL: Enable/disable sending alerts to the mailbox when the oscillator line changes trend;
• NOTIFICATION: Enable/disable sending alerts as notifications to mobile devices when the oscillator line changes trend;
• MESSAGE_TIMEOUT: Set the time interval between alert messages;
• MESSAGE_SUBJECT: Alert subject or custom message.

Conclusion

The FTLM STLM Histogram Indicator is a practical tool for traders looking to identify price movement shifts from corrective phases back to the main market trend.

This indicator creates a histogram window to display trend momentum and uses an oscillator line to mark market phase transitions.

When the trend shifts from bearish to bullish, the oscillator color changes from red to green, and when the trend shifts from bullish to bearish, it changes from green to red.