This indicator is useful when trading various currency pairs. This MT4 indicator is characterized by displaying the spread of each currency pair in a sub-window. This will help you understand your spread costs. In addition, there is also a flag function unique to this indicator.
As shown in the image above, this indicator is very simple and easy to use. Since the spread is updated in real time, it is useful even when the fluctuation of the spread is severe.
It also has a flag function. This reverses the color of the spread when the spread rises above a certain value (check the arrow in the image). This makes it easier to identify unusually high spreads on some currency pairs.
Tips for using:
Trade the currency pair with the lowest spread
Download the "Spread Monitor" indicator for free from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.
Related education and FX know-how:
Forex Education - Basics:
Free Forex eBooks:
Forex Education - FX Brokers:
Forex Education - Technical Analysis:
Forex Education - Money Management:
Forex Education - Psychology:
Other trading tools: