Watch how to download trading robots for free. So post a link to it - let others appraise it. You liked the script? Try it in the MetaTrader 5 terminal. Credits for the indicator go to Meinmetatrader. This indicator is a convenient tool to quickly throw a glance a the currency's current spread. Especially with non-fixed spread brokers, determining the current spread from looking a the 5-digits quotes can be exhausting. You can easily change the position, color and font size as with ordinary labels.
Your changes won't get overriden! Forum on trading, automated trading systems and testing trading strategies. What Does a Spread Tell Traders? Every market has a spread and so does Forex. A spread is simply defined as the price difference between where a trader may purchase or sell an underlying asset. Traders that are familiar with equities will synonymously call this the Bid: First we will find the buy price at 1. What we are left with after this process is a reading of. Traders should remember that the pip value is then identified on the EURUSD as the 4th digit after the decimal, making the final spread calculated as 1.
Since the spread is just a number, we now need to know how to relate the spread into Dollars and Cents. The good news is if you can find the spread, finding this figure is very mathematically straight forward once you have identified pip cost and the number of lots you are trading. That means as soon as our trade is open, a trader would incur 1. To find the total cost, we will now need to multiply this value by pip cost while considering the total amount of lots traded.
Remember, pip cost is exponential. This means you will need to multiply this value based off of the number of lots you are trading. As the size of your positions increase, so will the cost incurred from the spread. I want the inputs panel to have color coding where I can easily adjust the color I want.
And also the font and its size. I also want it to draw a horizontal line when such spread is detected with following condition:.
I have a 5 digits account, let me know if you have any problem with this. The Spread Indicator Author: Last comments Go to discussion 7. MQL4 Comments 23 May at Sergey Golubev 24 Jun at QScalper 30 Jun at Dear Sir, I would like to get a spread indicator that floats near the current candle. When the price drops, I want the spread color in green 2.
I also want it to draw a horizontal line when such spread is detected with following condition: Can you make this simple indicator Sir?More...