The Forex Freedom indicator For MT4 is a popular trend-following indicator that works on 4 different time frame trends.
It’s an accurate trend signals indicator that pops up in a separate MT4 window in the form of 4 colored trend bars.
By default, it uses the following time frames: M15, M30, M60 and M240 (change in the input options).
Simplicity, when all 4 trends trade in agreement, it’s time to open a buy or sell trade.
Just load the Forex Freedom indicator onto the Metatrader 4 chart and start trading with it in minutes.
- 4 Blue colored Forex Freedom dots represent a buy trend.
- 4 Red colored Forex Freedom dots represent a sell trend.
- Stay aside when the dots are mixed (blue and red color).
- Does not repaint any dots.
- Works on any currency pair and time frame.
Feel free to explore the Forex Freedom indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Chart ( USD/JPY M5 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Forex Freedom MT4 Indicator
Buy Signal: Execute a buy trade the 4 Forex Freedom dots are colored blue (see chart).
Set your stop loss below the most recent swing low, or use your own favorite stop loss strategy.
Exit the buy trade for a reward/risk ratio of 2.0 or better, or wait until you get an opposite sell signal.
Sell Signal: Execute a sell trade the 4 Forex Freedom dots are colored red.
Set your stop loss above the most recent swing high, or use your own favorite stop loss strategy.
Exit the sell trade for a reward/risk ratio of 2.0 or better, or wait until you get an opposite buy signal.
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Gap, period 1, period 2, period 3, period 4, colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.