The Spread Indicator For MT4



Table Of Contents:

  1. The Spread Indicator For MT4
  2. What is Spread?
  3. Usage of the Spread Indicator For MT4

The Spread Indicator For MT4 is a very simple but useful custom indicator for Metatrader 4. It can show you the current spread of any instrument of your interest. You can just simply drag the indicator on any of your chart and the current spread in points is displayed in the top left corner. Keep in mind that 10 points are equal to 1 pip.

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In the following I will first write about what spread is and how it affects you. After that I will explain some examples on how to use the Spread Indicator For MT4.  

What is Spread?

Spread is described as the difference between the buy and the sell price of a given instrument or more commonly the difference between the bid and the ask price. The buy price is always higher than the sell price. In the picture above you can see the current bid and ask price. The ask price is shown by the red horizontal line and the bid price is shown by the grey line. Keep in mind that in trading you always buy at the ask price and sell at the bid price. The difference between the bid and the ask price depends on your broker and can get somewhat big, which can, depending on your trading style and trading method, have a huge impact on your trading performance.

As a rough guideline for your trading you can think of it like this: The lower the spread the better for your trading or the more profit you can make.  

Usage of the Spread Indicator For MT4

The Spread Indicator For MT4 is very easy to use. It displays the current spread in points for every instrument you want in the top left corner of your chart. The color can be changed in the settings.

The Spread Indicator For MT4 can be helpful for any kind of trader but is especially great for scalping. With scalping you are holding your trades for a very short time and use very small targets. A big spread would really mess with your results. Let’s for example assume you would take a scalp trade and your target is only 6 pips away, but the spread is already 2 pips or even higher. The result of this would be that your trade would have to move 8 pips instead of 6 to reach the target. This is one third more than without spread and can make a huge difference in your performance.

Another advantage of the Spread Indicator For MT4 is that it can warn you of sudden big movements. Right before a big movement like for example a news release happens, the spread tends to get a lot bigger. If you are considering a trade entry and see that the Spread Indicator is showing you a bigger than usual spread, it might good to stay patient and be careful.  

As you can see especially while scalping it is very important to always keep a close eye on the current spread. This is where the Spread Indicator For MT4 comes in handy and provides a lot of value for your trading performance. The Indicator is however not restricted to scalping. It is always good to keep an eye on the current spread, no matter the type of trading method you are using.

 

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