spreads
Info
The spreads is a Indicator for MetaTrader 5 that spread is realised through the difference of quotes of two symbols. if symbols quotes move in reverse - the second symbol is put in reverse.
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 spreads
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
spread is realised through the difference of quotes of two symbols.
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: pivot oscillator - averages - another powerful indicator for MetaTrader 5 traders.
spread is realised through the difference of quotes of two symbols. if symbols quotes move in reverse - the second symbol is put in reverse. in this case the spread is calculated through the sum of quotes.
Also recommended: Three-Pole Super Smoother Filter - similar indicator with strong performance on MetaTrader 5.
only quotes of the second symbol of the spread are put in reverse. the names of variables are clear in meaning. it is obligatory to use the indicator when both symbols of the spread are traded - quoted according to the time of the beginning - end of trading sessions.use of the indicator is possible when spread trading: for flat trading - increased - sell, decreased - buy. variability in interpretation of indicator values is also possible. it is possible to trade
lines - support and resistance levels and sloping lines from the spread chart after crossing them.
the code is commented out in detail, to set the indicator on the first symbol of the spread, variables are used to bring to integers for easy viewing and analysis of levels and values of the indicator,
in which we specify the number of decimal places as a multiplier, for example, if 5 decimal places are quoted, we set the value to 100000.
in fact, you can use many interpretations of the indicator values and breakdowns and bounces from levels for example - the variability is available, you can look and choose the most ideologically suitable variant for you.
suitable variant.
for example, you can use the trend interpretation of the spread quotes movement, for example, by seasonality.
an example of using the classical interpretation of audusd-usdcad spread, trading in the range. it is also possible to overlay standard figures of technical analysis and technical indicators, for example, envelopes, on the spread chart for a clearer interpretation of its values.
You may also like: nh n l - excellent alternative for indicator users on MetaTrader 5.
Source Code
яю//+------------------------------------------------------------------+
#property copyright "RobotFX"
#property version "1.3"
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_plots 1
#property indicator_label1 "Difference"
#property indicator_type1 DRAW_LINE
#property indicator_color1 clrGold
#property indicator_style1 STYLE_SOLID.......
⚠ 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.