The indicator is a histogram of the lowest/minimum spread only, given in a candle whilst the indicator has been running. Example scripts for placing buy or sell at the lowest spread are included.
It is similar to other spread monitoring indicators. I wanted simple code and only the spread minimums to display because I only want to pay the lowest spread for trade.
You can then use a script to place a trade and, for example, specify when current spread is equal or lower than the lowest spread in the previous candle. Probably best used on lower timeframes as otherwise you may wait for a long time to reach the minimum spread as required.
MT4 Indicators – Download InstructionsSpreadMIN is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data. SpreadMIN provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install SpreadMIN.mq4?
- Download SpreadMIN.mq4
- Copy SpreadMIN.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on SpreadMIN.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator SpreadMIN.mq4 is available on your Chart
How to remove SpreadMIN.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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