Technical Indicators for MetaTrader 5
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MetaTrader 5
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Overview
Real Spread Monitor is a powerful indicator that is designed to accurately measure and analyze real spreads, giving traders the ability to compare trading conditions of different brokers.
This product is also available for MetaTrader 4 => https://www.mql5.com/en/market/product/125769
Key Features of Real Spread Monitor:
1. Two modes of operation:
- Write mode: In this mode the indicator collects data on real spreads of the selected trading instrument and records them in a file. The spread is read on each tick, summarized, averaged and formed into a minute bar, which is saved to a file in the streaming mode. All values of minute bars are recorded in the following format: trading symbol, bar time, time shift relative to GMT, number of ticks, spread sum, minimum value, average value and maximum value. This data allows you to record the actual trading conditions at each stage of time.
- Read mode: The indicator reads real spreads from a file recorded in the write mode. This data can be used to analyze both current (real-time) and previously saved spreads (historical data). The files can be used by indicators from different trading terminals and even from different trading platforms MetaTrader 4 / MetaTrader 5, which allows comparing real spreads between different brokers and their different account types.
2. Analyze current and historical spreads:
Depending on how recent the data recorded in the file is, it is possible to analyze real spreads either in current time (data is updated in real time) or use previously recorded data for historical analysis. This allows traders to both monitor current trading conditions and analyze past market situations.
3. Flexibility of timeframes:
Although the real spread data is recorded in the form of minute bars, the indicator can display it on any timeframe convenient for the trader. This makes it possible to analyze the data on different timeframes, from one minute to one day, depending on the trading strategy.
4. Comparison of conditions of different brokers:
The main advantage of Real Spread Monitor is the ability to compare real spreads offered by different brokers. This helps the trader to objectively assess which broker provides the best trading conditions at different points in time. This is especially important for strategies with high frequency of trades, such as scalping.
5. Data format:
- Minute spread bars based on each tick. This data is useful for detailed analysis of spread history and current trading conditions.
- Interaction between instances of the indicator on different terminals via files: this allows sharing spread data between multiple platforms or brokers, synchronizing the analysis.
Who is Real Spread Monitor suitable for?
- Traders using several brokers: The indicator helps to understand which broker has more favorable trading conditions at different times of the day.
- Scalpers and active day traders: Real-time spread monitoring helps to minimize trading costs.
- Analysts: Useful for studying the behavior of market spreads in different conditions and identifying optimal trading periods.
Real Spread Monitor is an indispensable tool for any trader who wants to improve trading conditions and accurately analyze spreads of different brokers, with the ability to flexibly display data on different timeframes.
Input parameters:
| === REAL SPREAD MONITOR === | Real Spread Monitor Settings. |
|---|---|
| Mode | Indicator operation mode: Read Mode - read mode; Write Mode - write mode. |
| File Name | The name of the file to read or write spreads. In the Write Mode you can leave empty - the indicator will create the file automatically. |
| === MOVING AVERAGES === | Moving averages settings. |
|---|---|
| Show MA Max | Show moving average of maximum spreads. |
| Show MA Avg | Show moving average of average spreads. |
| Show MA Min | Show moving average of minimum spreads. |
| === GRAPHICS === | Graphics settings. |
|---|---|
| Histogram Max: Color | Color of the histogram of maximum spreads values. |
| Histogram Max: Width | Width of the histogram of maximum spreads values. |
| Histogram Max: Style | Style of the histogram of maximum spreads values. |
| Histogram Avg: Color | Color of the histogram of average spreads values. |
| Histogram Avg: Width | Width of the histogram of average spreads values. |
| Histogram Avg: Style | Style of the histogram of average spreads values. |
| Histogram Min: Color | Color of the histogram of minimum spreads values. |
| Histogram Min: Width | Width of the histogram of minimum spreads values. |
| Histogram Min: Style | Style of the histogram of minimum spreads values. |
| Line MA Max: Color | Color of the moving average line of maximum spreads. |
| Line MA Max: Width | Width of the moving average line of maximum spreads. |
| Line MA Max: Style | Style of the moving average line of maximum spreads. |
| Line MA Avg: Color | Color of the moving average line of average spreads. |
| Line MA Avg: Width | Width of the moving average line of average spreads. |
| Line MA Avg: Style | Style of the moving average line of average spreads. |
| Line MA Min: Color | Color of the moving average line of minimum spreads. |
| Line MA Min: Width | Width of the moving average line of minimum spreads. |
| Line MA Min: Style | Style of the moving average line of minimum spreads. |
| Text Info: Read Mode Color | Color of the information text in read mode. |
| Text Info: Write Mode Color | Color of the information text in write mode. |
| Text Info: Font Size | Font size of the information text. |
