FTLM STLM Indicator is best known as a trend-based oscillator, able to closely monitor the price action data and accumulate it into effective trend-following trading signals. This indicator can be used for both market entry and exit purposes. In addition, its simplicity of use allows traders to easily master it and apply for regular trading activities.
This indicator is applicable to trade all kinds of forex currency pairs available in the asset list of your forex trading platform. Moreover, it adjusts itself to all sort of timeframe charts and supports both scalping and day trading tasks.
FTLM STLM Indicator Overview
Download and install the indicator on your MT4 terminal. Once you’re done, find your trading chart like the image below:
Explanation
FTLM STLM Indicator applies both FTLM average and STLM bars for finding the market trends and entry points. For bullish trend confirmation, either FTLM or STLM value should be turned into positive. But for a long entry confirmation, both of the indicator value needs to be turned positive. On the other hand, FTLM value turns negative means a primary confirmation of the bearish trend. For short entry, both FTLM average and STLM bars turn into a negative value. FTLM average can be used for determining the potential trade exit areas. Therefore, you counter the FTLM value turns opposite to your trade entry direction means it’s time to close the trade and exit the market.
FTLM STLM Indicator: Buy Conditions
- FTLM Average moves above the zero level
- STLM bars turn into a positive value
- Buy triggers when the above conditions are met
- Set stop loss below the recent low of the market
- Exit long or take profit whenever the FTLM value turns negative
Also Read: XM Review
FTLM STLM Indicator: Sell Conditions
- FTLM Average moves below the zero level
- STLM bars turn into a negative value
- Sell triggers when the above conditions are met
- Set stop loss above the recent high of the market
- Exit short or take profit whenever the FTLM value turns positive
