If you are looking for the best spread indicator mt4, I’ve got one here you can play around with.
MT4 Market Watch Window
If you are trading forex using the MT4 trading platform, you know how hard it is to calculate spread…especially what the current spread is on the chart because when bid and ask prices change, the spread changes too.
Now, in MT4 trading platform, you a window called the “market watch” were all the currencies are listed with their bid and ask prices where you can calculate spread from but it take a long time and to make it worse, the prices are always changing.
But with this spread indicator, if you want to show the current spread of a currency pair, just place the indicator on the chart and it will give you the spread as shown on the chart below:
How The MT4 Spread Indicator Works
- After you’ve saved it in your “indicators” folder, you need to restart your trading platform and click and drag that indicator over to the chart you want the spread indicator to display on.
- What it show on the the chart is the current live spread that his happening.
- A 2.5 pips spread will read as :Spread:25 Points on the chart.
What Is The Spread Indicator MT4 Useful For?
Apart form trying to calculate spread yourself based on the mt4 market window, this one does it for you on the chart that you are interested in.
The mt4 spread indicator is really useful also when you are a trader that likes to trade forex news.
It would be good to see how the spreads increase before and during news time so you can decide when to buy, where to place your orders etc and where to place stop loss.
Other Mt4 Indicators That You May Also Be Interested In
- zigzag indicator mt4
- inside bar indicator mt4
- pin bar indicator mt4
- candlestick pattern indicator mt4
- mt4 candlestick time indicator
- pip value calculator mt4 indicator
Here’s the link: Spread Indicator MT4
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