Spread indicator, which allows you to estimate how large the spread is at the moment
One of the most important indicators in Forex trading is the spread, which you have to pay when opening a new transaction.
If you trade scalping and open a lot of trades, then you know how much you have to pay to open trades and how important it is to control the size of the spread.
Depending on the market situation, this commission can increase tens of times and it can be a shame when, having become carried away by the trading process, you discover that you paid more than usual.
You can control the size in the market window, but this is quite inconvenient; it is more practical to use the Spread indicator.
We have presented similar tools more than once on our website, but new interesting scripts appear every day.
The advantage of the Spread indicator introduced today is that it estimates the current size, allowing you to evaluate how wide or narrow the spread is now in relation to the minimum and maximum value:
That is, after installing metatrader 4 into the trading platform, not only the current spread size is displayed on the screen, but also information about its maximum and minimum size. Thanks to this, you can decide whether to open a deal now or wait for a more favorable moment.
For user convenience, the data displayed on the screen changes color: red – high spread, green – low spread.
Spread indicator setting
The tool works great without additional settings, but if you want to change something:
Almost all settings relate to the color scheme in which the results of the indicator and the background of the panel itself are displayed.
The tool is absolutely free and, when used correctly, allows you to save up to 70% of the commission for opening transactions.
According to the results of testing, the broker Alpari had the narrowest spreads - www.alpari.com; in addition, the company also provides cashback.