MT4 indicator (Forex_Freedom_Bar.mq4)
How to read Forex Freedom Bar
The indicator is based on CCI (Commodity Channel Index) indicator.
How to trade with Forex Freedom Bar
There are no limits as to what time frame can be used for entries/exits.
Use the following parameters:
43200 - monthly time frame
When all 4 time frames turn red - time to sell, expect a strong downtrend; blue - buy, strong uptrend.
Another use of the Forex Freedom Indicator is to observe and trade on price pullbacks.
For, example, if we have:
Daily - red, 4 hour - red, 1 hour - red, but 15 min - blue
there is a retracement on 15 min chart, it is a good idea to check out the 15 min price chart and watch for good entry opportunities at the end of the retracement.