[MT5 Version] An indicator that displays the spread in real time on the chart
The spread varies by product depending on the FX broker you are using.
For those who trade in the short term, such as scalping or day trading, the spread is a necessary expense, but to be honest, it’s something you’d rather not have.
That said, it also benefits the broker, so it cannot be completely eliminated, but if possible, entering when the spread is as tight as possible will, in turn, allow you to trade moreadvantageously.This will help you progress your trades more favorably.
This indicator is very convenient because you can keep it quietly displayed in the corner of the chart without having to calculate anything.
Below is the same product, but the FX broker differs, so there is about a 3 pips difference.
If it is displayed in numbers in the corner of the chart like this, you can check it just before entering, and it even has a warning function: if the spread widens beyond the set value, you can change the color and size of the text.
By doing so, you can reduce unnecessary costs even a little, so please consider incorporating it into your trading life.
For more detailed explanations, please check this page.