Useful Spread size indicator for MT4
A fairly necessary thing for every trader, such as the spread indicator, will allow you to constantly monitor the size of the broker’s commission for any currency pair.
Now there is no need to constantly peer at quotes; all the information you need is right in the window of the trading terminal.
Spread - the amount of the broker's commission that he takes from each transaction for the purchase or sale of currency, can be either fixed or floating, which changes depending on the volatility of the market or at the request of your broker.
The lowest indicator is observed for currency pairs involving the US dollar, and the highest for exotic trading instruments on Forex.
The spread indicator is simply necessary for those who trade using the scalping strategy or use pips to make money on Forex.
The profit received can be quite significant, especially considering that the spread commission for low-volatility currency pairs sometimes varies from 5 to 20 points.
In addition, you can always check whether your broker complies with the stated trading conditions, because often the stated commission, even at a fixed level, does not always correspond to the real one, which is taken in the trader’s terminal.
The spread indicator should be included in the group of scripts, since it has absolutely nothing to do with Forex technical analysis and does not analyze the trend, but simply displays information provided by your broker.
Installation and configuration of the spread indicator
After you have downloaded the spread indicator, we copy it to the terminal installation folder and add it to our currency chart in the trader’s terminal itself, where it will be located in the “Custom Indicators” section.
During installation, you can only change the features of the visual display of text information displayed by the indicator on the screen, the size and color of the text, and also plan where the information on the spread will be displayed.
If desired, the information window can easily move across the screen, you just need to hover the cursor over it and click a couple of times; moving it will allow you to move this window so that it does not interfere with the display of the trend line of the currency pair.
In my opinion, this is a quite useful script, and it is fully working, which has been checked more than once.
Download the Spread indicator.
We would also like to recommend an interesting script that displays statistics on changes in the spread size of your broker - http://time-forex.com/skripty/skr-razmer-spred this will allow you to estimate the possible commission sizes.