Andy

Master Trader
Nov 28, 2014
130
13
54
London UK
Hey I was thinking...

How about attaching the spreads value to the bottom of the Bid price line?
(Very similar to the PSC SL and TP line labels).

And then being able to chose separate colours for the corner text and the line label so that either one or both objects can be hidden?
(Again like the PSC).
 

Andy

Master Trader
Nov 28, 2014
130
13
54
London UK
What do you think?

It would save on space by having the option to free up/hide the corner text and it would display the information in a much more relevant area of the chart, not to mention being able to constantly still see the actual real-time spread value without having to look at the market watch window, a corner of the chart or having to bring up the object list and repeatedly refresh its list.
 
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Reactions: Enivid

Andy

Master Trader
Nov 28, 2014
130
13
54
London UK
Thanks Enivid,

Since it was first introduced into the PSC I'm really liking how and where the information is displayed.
 

Nathan.Küster

Master Trader
Apr 28, 2018
23
5
64
34
Brazil
I think that this indicator would be even better if it also showed the cost of pip and spread as in the image below.

Unfortunately it is a script and I would have to launch it every time I change the symbol or timeframe.



0.png
 

Attachments

  • spread_and_pip_cost_checker (script).mq4
    1.9 KB · Views: 4

Nathan.Küster

Master Trader
Apr 28, 2018
23
5
64
34
Brazil
The size of the spread in pips does not matter when you trade different types of instruments, currencies, indices, metals, energies, commodities.

Examples:
AUS200 - 38 points
XAUUSD - 70 points
USDMXN - 1020 points

What is the use of knowing these values?
The cost of the spread in money, that may be relevant.
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,812
1,419
144
Odesa
www.earnforex.com
The spread in pips is meaningful to a trader who knows what he is trading. E.g., if spread jumps from 15 points to 80 points when trading EUR/USD, it means that volatility is high and it's best not to scalp until spreads are back to normal.

To bring in some meaningful spread value, the indicator should also consider a position size, which adds a whole new layer of complexity for using this indicator.

It might be a good idea to have an indicator that shows the spread value in currency units for a planned trade size, but I am not sure that the current Spread indicator is a right one to add it to.
 

fxsaber

Active Trader
Sep 1, 2019
39
1
29
www.mql5.com
There is an indicator for MT5 that compares the historical spreads of several brokers at once on one chart. You can compare spreads, for example, in the Asian session for the best scalping.
SpreadSymbol


https://www.mql5.com/ru/code/40669