STLM hist Indicator is best known as an intraday momentum oscillator. It scales the daily price range and signals for possible changes in market momentum whenever price hits or crosses key market areas. It can be applied to analyze any forex currency pair you like within the financial markets. However, as an intraday indicator, it suits timeframe charts like M5 to H1 of your forex MT4 trading platform.
STLM hist Indicator is a plain & simple momentum oscillator that can be read and understood by traders with any level of market-related experiences. Its simplicity of use offers great advantages for newbie traders.
STLM hist Indicator Overview
Download and install the indicator on your MT4 platform. Once you’re done, find your trading chart like the image below:
Check Out: The Best Forex Trading Strategy Ever
STLM hist Indicator Explanation
STLM hist Indicator signals the market momentums by using its colored histogram bars. It also signals for possible trend reversals through its own oscillator scale. In general concepts. The bars turn green when the momentum is bullish and turns red for signaling the bearish momentum of the market.
STLM hist carrying a positive value means the trend is turning into bullish and its time to go for a long entry. For bearish trend confirmation, wait until the STLM value turns negative. Besides its momentum and trend reversal signals, you may also add price action patterns to your strategy for a finer trading result.
STLM hist: Buy Conditions
- STLM hist bars turn into a green color
- STLM value turns positive
- Buy triggers when the above conditions are done
- Set stop loss below the recent swing low of the market
- Exit long or take profit whenever STLM shows a negative value
STLM hist: Sell Conditions
- STLM hist bars turn into a red color
- STLM value turns negative
- Sell triggers when the above conditions are done
- Set stop loss above the recent swing high of the market
- Exit short or take profit whenever STLM shows a positive value
