Introduction to the Spread History Indicator
The purpose of the Spread History indicator is to monitor spreads and catch unusual spikes. All you have to do to start is uploading it into your MT4 charts and this tool will immediately start tracking the broker’s spread. Please note that it won’t show past results – you will only see the results for the period since you started the software.
These are three main elements of the indicator:
- purple bars represent the maximum spread during that time period the bar (or candlestick) was forming;
- the green line show the average spread;
- spread spike – represented by a very tall bar (on the spread history indicator).
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
That tool will give the opportunity to see periods where spreads increased. Those happens usually during periods of low volatility. For example, just before high impact news in the forex markets. Additionally, you can also see in the past history where a spread spike has happened.
How to set up the Spread History indicator in MT4?
Copy and paste the FXRM_Spread_History.ex4 or FXRM_Spread_History.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, that goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Spread History indicator is well worth adding to your trading collection. Spreads sometimes spike and widen a lot and you should avoid trading during those times. That’s when Spread History indicator comes in handy. I’m sure you will be interested in that MT4 spread indicator either.
Spread History Indicator Free Download
To download the Spread History Indicator for Metatrader 4 (MT4) for free just click the button below: