This spread indicator MT4 is a really good tool to use especially if you want to see what the spread is like for the currency pairs on your charts.
The download link for the MT4 spread indicator is towards the end of this post.
Why The MT4 Market Watch Is Not A Good Option For Calculating Forex Currency Spreads
There’s a thing called a market watch on mt4 trading platform. It does give you the bid and the ask prices of all the currency pairs that on the mt4 trading platform and you can figure out roughly what the spread is for each currency pair based on that.
But here’s the problem:
- the bid and ask prices fluctuate a lot and are not steady
- the the next problem is that you have to calculate it and this takes time.
The best solution is to have a spread indicator actually on a chart which shows what the spread is right now while you are looking at the currency pair.
That’s where this amazing spread indicator for mt4 becomes very handy.
How The Spread Indicator For MT4 Trading Platform Works
- Once you download, it must be saved inside the Indicators Folder
- You open your MT4 navigator and find the spread indicator and double click or click and drag into a chart you want the spread indicator to display.
- By default, you will have a text and number display on the top left hand side of the MT4 trading platform with something like this: Spread : 23 points. This simply means, the spread is 2.3 pips.
- Any time the bid and ask price change, you will see the spread indicator is also very quick to change in real time as well while you are watching.
- When a major forex news like, the non-farm is about to be released, try putting on the spread indicator and see what happens…you’ll be surprised to see how large the spreads will widen
Here’s The Mt4 Spread Indicator Download Link
Finally, here the download link to the best spread indicator for MT4 trading platform: Spread.
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