The FTLM Signal Oscillator indicator for mt4 (Metatrader 4) generates trading signals based on the crossover of two signal lines.
The indicator pops up in a separate MT4 chart window as an oscillator without extreme borders.
The FTLM oscillator is very simple to trade; it works very similarly to the popular moving averages crossover system.
Buy & Sell Trade Example
- Open a buy trade whenever the blue signal line crosses the red signal line bottom-up.
- Open a sell trade whenever the blue signal line crosses the red signal line top-down.
The FTLM Signal Oscillator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “ftlm-histogram.mq4” indicator for MT4
Indicator Chart (EUR/USD M15)
The example chart below displays the FTLM Signal Oscillator mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the FTLM Signal Oscillator indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Price oscillator
Does the indicator repaint? No.
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Download the “ftlm-histogram.mq4” indicator for Metatrader 4
