Spread Record Lite MT5
Usage. The Spread Record indicator displays spread for each price bar as a bar graph. It uses five variables as spread values:
- Spread level at the bar opening;
- Maximum spread level reached during the bar;
- Minimum spread level reached during the bar;
- Spread level at the bar closing;
- Average spread level within the bar (displayed as a green dot on the corresponding level of the bar)
This version of the indicator is free of charge and available for everyone. It does not remember spread values, and if you restart the terminal or the indicator, it will show the spread level from the last bar. If you want to download the previously received spread history, use Spread Record Standart MT5. The distinctive features of the Standart version as compared to the Lite one are as follows:
- Displaying a maximum spread provided by the MetaTrader 5 platform as red dots on the appropriate levels. The levels are shown when the history of saved values is absent or unavailable.
- Ability to save and download a spread history from a file allowing you to collect spread history for any symbol.
Apart from spread history in the form of price bars, Spread Record Lite MT5 provides a convenient panel for the visualization of the current spread level. The panel allows you to easily manage the current symbol spread.
Application. Quite often spreads have a tendency to widen before start of a strong movement. Such spread widening precedes the beginning of a new trend and is a great signal for market entry. Moreover, a lot of false movements are accompanied by spontaneous widening of the spread. If you know this fact, you can create a trading system based on recognition of such false movement and subsequent trading against this movement. You can also enter the market only when the spread level is near its minimum values. It will significantly decrease the slippage and consequently your losses.
Attach the Spread Record indicator on a minute chart and watch. After a while you will definitely see some noteworthy spread fluctuations, which precede strong movements of the market, and other interesting signals of the indicator, which can be easily used in trading.
- SpreadRecort Lite, just like Standart, saves quotes to a file. However, unlike Standart, it cannot read them. After the indicator is re-launched, the calculated spread is displayed since the launch.
- Added the additional panel showing a spread level in the indicator subwindow. To enable the panel, simply click the black arrow in the upper right corner of the indicator window.