spread lines
Info
The spread lines is a Indicator for MetaTrader 4 that the indicator supports two functions:spread ask and bid line customization (style *, thickness) second broker spread comparison ** - see indicator input for instruction. regards below images: the top image shows customization of spread ask & bid lines.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use spread lines
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
the indicator supports two functions:spread ask and bid line customization (style *, thickness) second broker spread comparison ** - see indicator input for instruction.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: actual resistance and support lines indicator - another powerful indicator for MetaTrader 4 traders.
the indicator supports two functions:
Also recommended: spread indicator for pair trading - similar indicator with strong performance on MetaTrader 4.
spread ask and bid line customization (style *, thickness)
second broker spread comparison ** - see indicator input for instruction.regards below images:
the top image shows customization of spread ask & bid lines.
the bottom image shows second broker spread comparison (second broker spread - chart spread, 8 - 5 = 3 points spread adjustment). the comparison is relative and is an addition or subtraction padding of the chart ask line.* dependent on chart on foreground. ** dependent on show ask.
note:
this indicator will automatically set → chart on foreground and show ask: chart on foreground and show ask can be toggled on/off from the indicator inputs window.
You may also like: klines indicator suite - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
#property indicator_chart_window
input color ask_line = mediumseagreen; // ask line color
input color bid_line = red; // bid line color
input int line_width = 1; // line width : 1, 2, 3, 4, 5, 6, 7, .....
input string a = " * * * * * "; // line style effective only if line width = 1
input enum_line_style line_style = 1; // line style.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.