It came the time to bring my input to MQL4 community as well. Many people do not know if the brokers are honest or not on Spread with them.
I developed 2 small indicators which will allow you to see hot the spread is performing real time and for the last few minutes or whichever you can thing your platform can hold. From my experience few minutes is more then enough to see that. All this is performed real-time and you will not have past data since MT4 does not store such kind of information – unless we will program it.
During News Release on most of pairs the Spread was almost doubled or tripled – and this was on demo account. I can’t wait to see what will happen on a real-account. As soon as you will apply the indicators it will start Logging the Spread + Bid + Ask for the last 500 ticks or whichever you specify in the parameter LastTicks. In the beginning you will have only few of them but after one minute you will see that your chart has more data.
2 simple indicators:
- _x_SpreadLogger.mq4 – keeps track of the latest spreads for the currency so you can see what is the min and max during a certain type of period
- _x_BidAskLogger.mq4 – keeps track of the latest Bid and Ask proces for the currency so you can see how they performed a certain type of period
The template which comes with it allows you to apply them simultaneously to your chart – or you can apply _x_BidAskLogger first and then _x_SpreadLogger on the same subwindow or separately – as you wish
MT4 Indicators – Download Instructions
SpreadLogger + Bid and Ask Logger is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
SpreadLogger + Bid and Ask Logger 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 SpreadLogger + Bid and Ask Logger.mq4?
- Download SpreadLogger + Bid and Ask Logger.mq4
- Copy SpreadLogger + Bid and Ask Logger.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 SpreadLogger + Bid and Ask Logger.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator SpreadLogger + Bid and Ask Logger.mq4 is available on your Chart
How to remove SpreadLogger + Bid and Ask Logger.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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MT4 Indicators Download here: SpreadLogger + Bid and Ask Logger