NOTE: MetaQuotes has updated their MQL4 language and our tools won´t work on MT4 Build 600 and greater, nevertheless all our tools offer the same features and advantages as usual. We highly recommend reading this blog post about updating MT4 to Build 600.

4xSpread

Installation

Steps:

  1. Download the Installer.
  2. Copy the Installer to your MetaTrader4 indicators’s folder.
  3. Restart MetaTrader4.

1) You will receive an email containing your download link. After you complete the download, open the folder where the file resides, right click and copy the file.

2) Navigate to: Computer>Local Disk (c:)> Programs Files>Your-Metatrader4 folder>Experts>Indicators> and Paste the file you copied in step 1.

3) Restart your MetaTrader4.

Setup:

Open the chart(s) where you want to use the 4xSpread indicator, open the Navigator Window (Press Control + n) and double click on 4xSpread from the list of Custom Indicators.
A window will pop up, where you make sure on the common tab are checked either Allow DLL imports and Allow external experts imports.

Inputs tab:

Spread: You must enter a value for the indicator to work. You should enter your broker’s advertised spread or the spread amount you like to monitor. The indicator will show green when the current spread remains below that number and gradually escalate to red when above.

Position: The default value is 0, and it will put your indicator on the top left of the screen, by changing it to 1, the position will be at top right, changing to 2 it will place it on the bottom left and changing to 3 it will place it on the bottom right.

Main screen:

The 4xSpread indicator will display the current Bid, Ask and the current spread in real time. It will also draw a bar that will change color and size depending to the amount of the spread.

TIPS:

If you want to monitor the spread for several pairs at the same time you can click on Window>Tile Horizontally.

This is what 4xSpread looks like on six different charts.

WallStreet Forex Robot