1. You should specify the spread in the settings for the indicator to start working.
2. The indicator is made for 4 decimal platform. If you have 2 pips spread for EURUSD with your broker, you set Spread = 2.
If you trading platform uses 5 decimal price charts, (e.g. you see
the spread for EURUSD as 1.12330 -> 5 digits), then if you need to
have 2 pip spread for EURUSD you should input Spread = 20.
3. The rest of the settings allow to move the information window to the upper/lower left/right corner on the screen.
How to use 4xSpread.ex4 indicator
The usage is straight forward:
- the broker promised you to certain spreads for each currency pair.
You can now input that promised number as your base Spread, and the
indicator will tell you when the spread is high to trade (red) and when
it's good to trade (green).
Good spread
The spread = 2 pips. (You see "20" because the charts we use are 5 decimal charts)
The indicator is very useful for watching current spreads. During the
trading news announcements, if you come to trade uninformed and
unprepared, you can pay a high price of up to 15-25 pips for opening a
trade at the wrong minute.
Download indicator:
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