Boten Spread Monitor
- Utilities
- Boten Limited
- Version: 1.0
Download your broker's detailed spread data into a simple CSV file
When choosing a broker, it is important to choose one that offers the right spreads for you. Ideally, we choose a broker with the lowest spreads. However, a broker will only advertise either the lowest spread they offer, or the average spread.
The reality of spread is that it can vary massively and depends on the currency pair, the time of day or the volatility of the market at a given point in time.
Some EAs are more sensitive to spread than others. Those with tight stop loss/take profit or those that provide scalping. It is therefore important to understand the range and frequency of the varies spreads seen over time.
This tool enables you to record this information so that you can analyse this and decide whether or not the EA you are looking for is right for you, or even whether the broker you are using suits you.
You can just attach this EA to a chart and the spread observed at every tick will be added to a CSV file on your computer. You are then free to analyse this data however you like, be it with Excel or even Tableau or Power BI.
Additional Information
- A test was performed on the data for 24 hours. This created a CSV file of 81,314 rows with a file size of 5MB.
- The only parameter required is the name of the file. You must provide the file name as text with no spaces or special characters. Do not specify any file extension. Ensure the filename is unique.
- The file will be created in the Files folder of MT4 for live and in the Tester folder when used in the strategy tester. Screenshots are provided.
- You can access the file folder from MT4 by going to the File menu and selecting "Open Data Folder".
- There will be no point using this in the strategy tester since the spread is fixed for any given test.
