spread per hour statistics
Info
The spread per hour statistics is a Indicator for MetaTrader 5 that might be useful if you want to determine hours with lowest (or highest) actual historical spreads for particular instrument and adjust your ea entries accordingly. every line represents 8-hour period within a day starting at 00:00.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use spread per hour statistics
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
might be useful if you want to determine hours with lowest (or highest) actual historical spreads for particular instrument and adjust your ea entries accordingly.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Spread Monitor: Analyze Market Spread in Real-Time - another powerful indicator for MetaTrader 5 traders.
might be useful if you want to determine hours with lowest (or highest) actual historical spreads for particular instrument and adjust your ea entries accordingly.
Also recommended: Clock (Spread) Indicator for MT5 - similar indicator with strong performance on MetaTrader 5.
every line represents 8-hour period within a day starting at 00:00. day of week is adjustable.best approach is to launch in the strategy tester for desired period in 'real ticks' + visualization mode.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_plots 0
enum enum_day_of_week__
{
any_=-1,// any
monday_=monday,// monday
tuesday_=tuesday,// tuesday.......
⚠ 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.