Fred4 supports vertical and horizontal guides. The term is 'column' guides for the vertical guides, and 'module' or 'baseline guides' for the horizontal guides.
Column and module guides can be turned on and off independently.
Module guides can be used as a baseline grid, and displayed or hidden as you wish (a personal preference).
On the following screenshot, the page grid on the left side is show with module guides hidden, while the page on the right side shows them as baseline grid.
Using module guides as baseline grid
You can use module guides to act as a baseline grid. In order to do so, set the module height to the most frequently used leading. See also Page baseline grid chapter for more details.
Notes
Have in mind that the script commands that read grid values (e.g. column width, module height) read only from the master page data, and only from the values that are set in Layout > Master Setup. Therefore, if you manually move the guides on a master, all the scripts that use the column width and the module height reading from the master data will malfunction. DON'T DO IT!