Forex Indicator – Spread

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Forex Indicator Spread settings:

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Spread MetaTrader indicator – displays the current spread in the main chart window. You can change the font parameters, the location of the indicator and the normalization of the spread value. The indicator is drawn after each tick, providing the most relevant value of the active spread. This can be useful when using brokers with variable spreads or with frequently expanding spreads. You can also enable the display of a text label that will show the spread value next to the current price line. The indicator is available for both MT4 and MT5.

The indicator measures the current spread in points (pips). Since there is no clear convention on what a point is, the indicator has an input parameter called DecimalPlaces. Using this parameter, you can change the concept of the indicator about the item. If you set it to 0, you tell the indicator that one item looks like “1” – with a zero of digits after the decimal point. Thus, a quotation of the form 1201.4 / 1202.6 will show a spread equal to 1.2 points. If you set DecimalPlaces to 1, then this will mean that your item looks like “0,1” – with one digit after the decimal point. And this means that the same quote contains a spread of 12 points. If you think that the correct item should look like “0.01”, you can set the DecimalPlaces parameter to 2 and the spread of the same quotation will be equal to 120.

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