The Symbol specification indicator shows information about the specification of the contract for the symbol of a currently open chart in a convenient form. The data is shown in a separate window below the chart and contains the following information:
- Spread size. If the spread is too large, the pair should be hidden from the Market Watch and it should not be traded.
- SWAP for long and short positions. So the indicator informs a trader about possible additional expenses and profits connected with transferring a position to the next trade session of the financial instrument.
- Distance to stop order, stop loss and take profit placing levels from the current price allowed by the dealing center. With too far allowed levels you cannot set the order parameters required for your specific trading style, which may harm your trading.
- Amount of risk in one point in the deposit currency. If the risk is not specified, then it may indicate possible broker's manipulation with this value. For example, a broker can indicate a high risk and harm a trader's account even during minor price movement opposite to your deal. Currency trading without this value is not recommended.
- Symbol name and current chart timeframe. This information is required when trading using a trading panel that hides symbols in the upper left corner of the chart, and the automatic detection of the timeframe that was calculated by the Chart format indicator when expanding a wave of a greater range.
The Symbol specification indicator fits any custom template. It allows avoiding too much different information on a chart.
The indicator is included in the category of required software. It is recommended to include it in a template for trading based on the Trading Chaos strategy.