The first part of a standard plot sequence is the exposition. This story first introduces readers to Max. He has extremely low confidence in himself, and he lives with his grandparents because his mom is dead and his dad is in jail. Kevin is his next door neighbor, and he has major health complications.
The rising actions of the story include Max and Kevin becoming friends and roving over the neighborhood as "Freak the Mighty." They run into a gang of bullies and are confronted by Iggy and Loretta. Later, Max is kidnapped by his murderous father.
The climax of the story occurs when Kevin stages a daring rescue and frees Max. Max's father, Killer Kane, is captured by the police.
The story then moves into the falling action which includes Kevin having more frequent hospital and doctor visits. His disease eventually kills him, and Max is once again left alone. He descends into a deep depression.
The story concludes with Max beginning to write about his adventures with Kevin, and readers realize that they have been reading that very account.