Sunday, April 29, 2012

MT4 indicator (Forex_Freeway_2.mq4)

MT4 indicator (Forex_Freeway_2.mq4)

How to trade with Forex_Freeway indicator

Forex MT4 indicator Forex_Freeway_2 Download indicator: Forex_Freeway_2.mq4

 Forex Freeway indicator is based on CCI indicator. In fact, it analyzes multiple CCI - from several time frames. There are 4 "roads" of Forex Freeway,read from left to right - 15min, 30min, 1 hour and 4 hours.

The idea is to enter the market when all 4 CCI agree on a trend.

A trader chooses which time frames to monitor.
Trading signals are interpreted the following way:

When all 4 roads of the Forex Freeway are green - Buy.

When all 4 roads of the Forex Freeway are red - Sell. 

Important: when you set up the indicator

When adding Forex Freeway indicator to MT4 chart, be sure your chart has "Chart shift" settings on, otherwise you won't see the indicator - it will have no room to paint itself on the right.

(Right click on your chart -> Options -> Common -> enable Chart shift)

Once enabled, you'll find a small triangle above your screen, see example below. You can move this triangle to adjust your charts shift.

There is another Forex_Freeway indicator:

Forex MT4 indicator Forex_Freeway_2 Download indicator: Forex_Freeway.mq4

This one has additional horizontal lines across the Freeways roads, called "Road blocks". See example below (the indicator is seen better on the black chart background)

Road block show where the price can trip off - at support/resistance levels. Again we have different support/resistance levels for different time frames (different roads).




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