The Forex Freedom Trend MT4 indicator is a real trend trading indicator that delivers good results.
It’s composed of 4 trend bars that delivers the overall trend on the 15-minute, 30-minute, 1-hour and 4-hour charts.
The bullish/bearish trends are shown in the form of bars in a separate MT4 window.
How to trade with the Forex Freedom indicator?
A strong buy signal occurs when all trend bars are colored blue. In this case, the trend is strongly bullish across all aforementioned timeframes.
A strong sell signal occurs when all trend bars are colored red. In this case, the trend is strongly bearish across all aforementioned timeframes.
Forex Freedom can be traded as a standalone indicator or together with price action analysis.
Use the indicator for scalping, day trading and swing trading purposes.
You can modify all trend period settings from the MT4 inputs tab.
The EUR/USD 15-Minute chart below displays the Forex Freedom Trend Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Forex Freedom Trend MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Initiate buy trade order when all 4 Forex Freedom Trend bars are colored blue (strongly bullish). Place a stop loss below the previous swing low price.
Sell Signal: Initiate sell trade order when all 4 Forex Freedom Trend bars are colored red (strongly bearish). Place a stop loss above the previous swing high price.
Trade Exit : Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (gap, period 1, period 2, period 3, period 4) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours
Copy and paste the forex-freedom.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)