Introduction
Since 2008, most trading platforms have shifted to offering "floating" spreads. If you’ve noticed, these spreads tend to widen during the night and often spike around major news releases.
When spreads increase significantly, it can really impact some trading strategies, making them less profitable. Additionally, a larger stop level can disrupt the functioning of trading systems, especially those relying on fixed Stop Loss and Take Profit settings.
The Strategy Tester in MetaTrader 4 uses the last known values for spread, stop levels, and freeze levels, which can affect your results. On the other hand, the MetaTrader 5 Strategy Tester utilizes historical spread data, giving you a more comprehensive view of past trading conditions.
The spread_on_chart indicator is a handy tool that displays key values right on your trading chart, including:
- Spread: The difference between the current Ask and Bid prices;
- Stop Level: The minimum distance from the current price to your Stop Loss and Take Profit;
- Freeze Level: The minimum distance required for modifying orders.
This indicator updates with every tick, ensuring you have the latest information at your fingertips.
Here are the input parameters you can customize:
- Corner: Choose which corner of the chart to display the information. By default, it appears in the upper left;
- XMargin and YMargin: Adjust the horizontal and vertical spacing;
- Font, Color, Size: Set your preferred font name, color, and size for better visibility.
File List:
- spread_on_chart.mq4 - (for MetaTrader 4);
- spread_on_chart.mq5 - (for MetaTrader 5).
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