Currency Spread Calculator
- Indicators
- Opengates Success International
- Version: 1.1
- Updated: 16 April 2020
- Activations: 10
Currency Spread Calculator
This indicator is created with the aim of letting the Traders know the exact points of the
spread on the currency pair they are about to buy or sell.
This will safe them of paying exorbitant spread over a single currency pair
procurement. Imagine a normal spread become wider from 2 or 3 pips to 15pips or more when there is volatility in the market. It is absolutely
outrageous looking for just 20 pips and paying another 20 pips as spread over a currency pair!
Actually, this cannot prevent the widening of
the spread but at least, it will adequately inform the traders ahead so you will know what you are getting into. So if you can bear it, you can go
ahead and place the order but if not, you have saved yourself the agony of paying more than you are earning for the Brokers.
In a
nutshell, it helps the traders to make an informed decision about the order a trader is about to place. Since many traders do not bother
themselves about this but begin to wonder what happened to their trade that their Take profit was not closed despite the fact that the PRICE
(bid) reached and even went beyond their target point?
When the spread become widened beyond normal, it is good to stay our of the market
but if you can bear it, well, there is no harm in that but can you continue paying your Broker more than you are paying yourself and bad enough, to
your own trade detriment?
Remember that your target point may not get hit before the price reversed due to exorbitant spread. I believe it is not fair!
That is why this indicator is created for timely information on spread, it works on all instruments and irrespective of the Broker your are
using.
You can customize it with any color your desire due to the color formation of your chart and its background.
Cheers.
