Ask/Bid indicator to avoid broker scam on charts
Hi guys,
Here you have an indicator for MT4 to see the real ask and bid prices that your broker is appliying to you. Some brokers try to cheat on you by "manipulating" the ask/bid lines on the chart. In my case, I was confused because my limit orders were triggered before the bid/ask line got the limit price... so I decided to find out why it was happening... and voila! my broker (Umarkets) is cheating on me! (and of course is cheating on many others).
In the attached image you can see the difference between lines (the dotted ones are the real lines shown by the indicator, and the solid ones are the lines shown by the broker).
I would recommend to change broker. There are differences between each broker on the Bid and Ask Prices. I assume that the chart is from EUR/USD. Try a broker with 0 Spread and low commissions.
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
Hi guys,
Here you have an indicator for MT4 to see the real ask and bid prices that your broker is appliying to you. Some brokers try to cheat on you by "manipulating" the ask/bid lines on the chart. In my case, I was confused because my limit orders were triggered before the bid/ask line got the limit price... so I decided to find out why it was happening... and voila! my broker (<>) is cheating on me! (and of course is cheating on many others).
In the attached image you can see the difference between lines (the dotted ones are the real lines shown by the indicator, and the solid ones are the lines shown by the broker).
//+------------------------------------------------------------------+ //| Custom indicator initialization function | //+------------------------------------------------------------------+ int init() { ObjectCreate(0,"_Fab_ask",OBJ_HLINE,0,0,0.0); ObjectSetInteger(0,"_Fab_ask",OBJPROP_COLOR,clrRed); ObjectSetInteger(0,"_Fab_ask",OBJPROP_STYLE,STYLE_DOT); ObjectCreate(0,"_Fab_bid",OBJ_HLINE,0,0,0.0); ObjectSetInteger(0,"_Fab_bid",OBJPROP_COLOR,clrGray); ObjectSetInteger(0,"_Fab_bid",OBJPROP_STYLE,STYLE_DOT); return(0); } //+------------------------------------------------------------------+ //| Custom indicator deinitialization function | //+------------------------------------------------------------------+ int deinit() { //---- ObjectsDeleteAll(0,"_Fab"); //---- return(0); } //+------------------------------------------------------------------+ //| Custom indicator iteration function | //+------------------------------------------------------------------+ int start() { ObjectSetDouble(0,"_Fab_ask",OBJPROP_PRICE,Ask); ObjectSetDouble(0,"_Fab_bid",OBJPROP_PRICE,Bid); //---- return(0); } //+------------------------------------------------------------------+