Spread lister - current, min, max
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Spread lister - current, min, max
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
Description & Settings
Spread lister - current, min, max
Motivation to create such an EA:
All brokers have different rules on spreads - incl. fixed spread accounts, ECN, regular etc.
Some market EAs do have a build-in spread filter, others are developing own EAs with the need to know and potentially filter high spread phases.
Therefore it is important to know the spreads with your broker and account. Otherwise, one EA and settings might work for one trader while another would fail.
Description:
This simple EA can be assigned to any chart that is not used for real trading.
The min and max values are listed per day. The table / min max values will be reset at midnight (broker and terminal time). You may decide to toggle to pips instead of points in the settings.
All instruments that are in your Market watch (shortcut ctrl-u) are shown by default.
You may decide to sort by highest spread in the settings as well.
As formatting with standard comment function is an issue, I created a box and inserted the values. Every line gets a new OBJ_LABEL. Background and chart is not used, so grid and background can be removed.
Please find attached the mq5 code plus (in the zip) the compiled ex5.
Screenshot of EA result on chart:
Screenshot of the settings:
