About the FTLM Signal Oscillator Indicator
The FTLM Signal Oscillator Indicator for MT4 generates trading signals using the crossover of two signal lines.
It appears in a separate MT4 chart window and helps traders identify entry points with a simple visual method.
The blue line crossing above the red line signals a potential buy, while crossing below signals a potential sell.
Its logic is similar to moving average crossovers, making it easy for both beginners and experienced traders to use.
It’s suitable for scalping, intraday trading, and swing setups where clear crossover signals are desired.
Free Download
Download the “ftlm-histogram.mq4” indicator for MT4
Key Features
- Two-line oscillator for crossover signals
- Blue line crossing red line indicates trade direction
- No extreme borders, keeping the display simple
- Easy to use for beginners and professionals
- Compatible with other trend or momentum indicators
Indicator Chart
The chart shows the FTLM Signal Oscillator applied to MT4.
Crossover points of the blue and red lines generate buy or sell signals.
Traders can use the oscillator to confirm trend direction and time their trades effectively.
Guide to Trade with the FTLM Signal Oscillator Indicator
Buy Rules
- Enter a buy trade when the blue line crosses above the red line
- Confirm momentum in the direction of the crossover
- Open at the next candle open
Sell Rules
- Enter a sell trade when the blue line crosses below the red line
- Confirm momentum in the direction of the crossover
- Open at the next candle open
Take Profit
- Set a pip target based on pair volatility
- Use the previous swing high for buys, swing low for sells
- Take partial profits at the first target
- Use a trailing stop for the remaining position
- Close trade if an opposite crossover appears
Stop Loss
- For buy trades, place a stop below the recent swing low
- For sell trades, place a stop above the recent swing high
Practical Tips
- Focus on higher timeframe trends to confirm signals
- Combine with support and resistance for safer entries
- Use multiple timeframes to filter out false crossovers
- Be patient and trade only confirmed crossovers
FTLM Signal Oscillator + Flat Trend RSI Scalping Strategy for MT4
This scalping strategy combines the FTLM Signal Oscillator Forex Indicator for MT4 with the Flat Trend RSI Indicator for MT4.
The FTLM Signal Oscillator generates fast momentum reversal signals.
A buy signal occurs when the red line crosses back above the blue line, while a sell signal occurs when the red line crosses back below the blue line.
The Flat Trend RSI Indicator adds a trend filter: a blue histogram signals a bullish bias, and a red histogram signals a bearish bias.
By combining these indicators, traders can catch quick scalp trades in the direction of the prevailing trend.
Buy Entry Rules
- Wait for the FTLM Signal Oscillator red line to cross above the blue line.
- Confirm that the Flat Trend RSI Indicator histogram is blue (bullish trend).
- Enter a buy trade at the close of the signal candle or the next candle open.
- Place a stop loss 7–15 pips below the nearest swing low.
- Set your take profit at 15–25 pips or exit when the histogram turns red or the FTLM lines cross down again.
Sell Entry Rules
- Wait for the FTLM Signal Oscillator red line to cross below the blue line.
- Confirm that the Flat Trend RSI Indicator histogram is red (bearish trend).
- Enter a sell trade at the close of the signal candle or the next candle open.
- Place a stop loss 7–15 pips above the nearest swing high.
- Set your take profit at 15–25 pips or exit when the histogram turns blue or the FTLM lines cross up again.
Advantages
- Combines a fast entry signal with a trend filter for higher accuracy.
- Ideal for short-term scalping on active currency pairs.
- Clear and simple rules with small stops and targets.
Drawbacks
- False signals can appear in very choppy markets.
- Requires quick execution and tight spreads for best results.
- Performance may drop during major news spikes.
Example Case Study 1 – GBP/JPY 5-Minute Chart
On GBP/JPY, the FTLM red line crossed above the blue line at 187.40 while the Flat Trend RSI histogram was blue.
A buy entry at 187.42 with a stop loss at 187.27 (15 pips) and a take profit at 187.67 delivered a +32 pip gain within 20 minutes during the London session.
Example Case Study 2 – EUR/JPY 5-Minute Chart
On EUR/JPY, the FTLM red line crossed below the blue line at 157.90, while the Flat Trend RSI histogram was red.
A sell entry at 157.88 with a stop loss at 158.03 (15 pips) and a take profit at 157.63 produced a +27 pip scalp during the New York session.
Strategy Tips
- Focus on highly liquid pairs like EUR/USD, GBP/USD, USD/JPY, AUD/USD, GBP/JPY, and EUR/JPY for tighter spreads and more movement.
- Trade during the London and New York sessions for stronger intraday volatility.
- Avoid trading around high-impact economic news releases to prevent whipsaws.
- Adjust take profit and stop loss according to market volatility and spread.
Download Now
Download the “ftlm-histogram.mq4” indicator for Metatrader 4
FAQ
How does the oscillator generate signals?
Signals appear when the blue line crosses the red line, indicating a potential change in market direction.
Can I use it for scalping?
Yes, the oscillator is suitable for short-term trades, but confirming the higher timeframe trend improves reliability.
How can I reduce false signals?
Use trend filters, support/resistance levels, or confirm with another momentum indicator to improve accuracy.
Summary
The FTLM Signal Oscillator Indicator for MT4 is a simple, crossover-based tool that identifies potential buy and sell points with minimal effort.
Its straightforward signals allow traders to focus on entries and exits without chart clutter.
The indicator is versatile across timeframes and pairs and works best when combined with trend or momentum tools to filter false signals and improve overall trading performance.
