If we find something useful throughout our forex journey, and it's free, then we will do our best to share it with you here for free!
Heikenashi Zone Candles
This is an indicator that I use on all my charts. If you love Heikenashi candles, then you will REALLY love these! They change from red to gray to blue when the trend is changing, making it really easy to see the price action change.
Heikenashi Doji Spotter
Everybody knows that doji candles can mean a change in direction, so having an indicator that alerts you can be a very handy thing indeed! You can also set this indicator to give you an email alert. In the image below, notice the doji candles in yellow.
CCI (Commodity Channel Index) is a hugely popular indicator among traders. Although novice traders tend to pay little attention to CCI in the beginning of their lerning curve, later they return to discover amazing potential and beautiful simplicity of the CCI indicator. This particular CCI does a beautiful job of showing trend with simplicity. FREE DOWNLOAD
RSI with Levels Alerts
Note the Yellow Lightning bolts added to the chart image below. These are noting the 70 and 30 levels of the RSI. When prices crosses the levels, you will be alerted.
The alert options are in the "inputs" area of the indicator. You can choose Pop Up, Sound, Email, and/or Push notifications.
Super simple but handy indicator that displays the bar/candle time left before a new one is painted. This one displays on the upper right of your screen.
iBUK'S bREAD N bUTTER dASHBOARD
I found this one on forex factory, and it is a fantastic dashboard display for those trading Ibuk's Bread N Butter Strategy, or any strategy that uses 'distance from a moving average' as one of the trade indications. You can enter whatever Moving Average length you want, and whatever currency pairs you wish to monitor.
Candle end and spread
Simple little indicator that shows how long until a new candle, and how large your current spread is. It displays on the lower right of your main screen. It is gray in the image below. Please know that a spread of 16 is a spread of 1.6 actually.
Multi Time Frame Forex Freedom INdi
The indicator is based on CCI (Commodity Channel Index) indicator.
It lines us all CCI readings across multiple time frames, allowing to spot the moment when all CCIs signals agree on a trend. Red - down trend, blue - up trend....
There are no limits as to what time frame can be used for entries/exits.
This custom MT4 indicator also allows to choose the time frames to display.
Use the following parameters: 43200 - monthly time frame
10080 - weekly
1440 - daily
240 - 4 hour
60 - 1 hour
30 - 30 min
15 - 15 min
5 - 5 min
1 - 1 min
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.