The Spread Points indicator for Metatrader 5 displays the real-time currency pair spread on the price chart.
The spread is the difference between the ask price and the bid price.
It represents the actual cost of trading imposed by your Forex broker.
You have the flexibility to customize various parameters and indicator settings such as font color, font size, font face, corner placement, distance on the X-axis, and distance on the Y-axis.
This indicator is compatible with all trading instruments available on the MT5 charting platform.
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The picture below displays how the Spread Points indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Spread Points Indicator?
The indicator does not generate buy or sell signals, it only displays the spread in real-time on the trading chart.
Combine it with an existing trading strategy or buy/sell technical indicators.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the spread.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click on the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally, click the OK button to save the new configuration