Custom Spread Indicator
MT5Also Available for MT4Custom spread indicator for MT5. Best spread meter for MT5 showing spread in right low corner on the chart.
Description
The Custom Spread Indicator for MetaTrader 5 is a technical tool that calculates and displays the current trading spread of a financial asset. The market spread is divided into low, medium and high, which are indicated in green, orange and red, respectively.
The indicator is suitable for different categories of traders such as scalpers, day/intraday and swing traders. However, scalpers will find it more valuable and convenient, because, for example, a high market spread can negatively affect short-term (scalping) trading positions.
Moreover, the indicator is recommended for beginners, intermediate and advanced traders.
How to Trade With Custom Spread Indicator
The picture above shows how the indicator would look on your MT5 chart. Note that this indicator is also not a signal for BUY/SELL trades; but one that will help you keep an eye on the current spread of a trading instrument.
Conclusion
The Custom Spread Indicator for MT5 is the best forex tool to help you keep an eye on the ever-changing market spread. Finally, it’s free to download.
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