A MT4 Spread Indicator, what for?
The spread is an important component for the execution of your trading system, but it only exists in instant value in mt4.
This indicator pack for mt4 allows you to visualize spread variations on all assets offered by your broker.
The first indicator is located at the top of the graph, it shows you the value in real time, and the average value on the number of ticks you set.
The indicator settings allow you to set the size, color, and location of the indicator information.
The PIP_Average parameter allows you to define the number of ticks on which the average value will be calculated.
The second indicator makes it possible to graphically represent the variations in a separate window.
It consists of several measures that allow you to adapt your trading strategies according to these variations. Thus, it is possible to visualize the values of minimum spread, maximum, as well as the average observed on the same candle. The indicator adapts itself to the unit of time on which the graph is set.
Thus this indicator measures three major variables for the execution of your orders in trading.
- The minimum defines the minimum value that was measured during the candle
- The maximum defines the maximum speed that has been measured during the candle
- The average represents the average of all the values measured at each available tick of the candle.
This indicator is very useful for visualizing spread variations during the key moments of the day, it also allows you to know the average value of these periods, which can be useful to optimize your trading strategies.
It can also help you explain disputed executions due to random spread spreads.
This indicator works as a recorder, so it is imperative to leave it on a graph whose parameters are not changed, since the spread is not recorded, a change of setting erases all the recorded values.
It is possible to define a fixed value that can be displayed in dashed line, for example to display the variations relative to the target spread defined by your broker, or a value defined for the backtest of a trading strategy.
It is also possible to define different colors to customize the indicator to your different templates.