Spread Of Symbols
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Spread Of Symbols
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.
Description & Settings
Description:
Indicator input parameters:
Symbol1 and Symbol2 - symbols for calculation of prices difference and displaying it as a chart. AUDUSD and NZDUSD by default.
mass_of_symbol1 and mass_of_symbol2 - quantitative ratio of trading symbols. Both parameters are equal to 1 by default. If you want to calculate the sum of symbols, put -1 to mass_of_symbol2 parameter. Sum calculation is used to evaluate the possibility of applying negative correlation symbols in pairs trading.
Image:
The image displays:
AUDUSD chart above, NZDUSD chart in the middle and Spread Of Symbols indicator below.
