If you're looking to enhance your trading strategy, the Spread Oscillator is a valuable tool for MetaTrader 5 that displays the spread between two selected currency pairs.
This indicator comes with four adjustable settings that allow you to tailor it to your trading style:
- First Symbol: Enter the name of your primary currency pair.
- Second Symbol: Enter the name of your secondary currency pair.
- Fast MA Period: Set the period for calculating the fast moving average.
- Slow MA Period: Set the period for calculating the slow moving average.
Here's how the calculations work:
Spread Oscillator = SlowMA - FastMA
Where:
SlowMA = EMA(Ratio, Slow MA period)
FastMA = EMA(Ratio, Fast MA period)
Ratio = (Close(First symbol) / Close(Second symbol)) * 100.0
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