The Best Spread Indicator for MT4 (Setup Instructions)

If you are looking for the best spread indicator mt4, I’ve got one here you can play around with.

MT4 Market Watch Window

If you are trading forex using the MT4 trading platform, you know how hard it is to calculate spread…especially what the current spread is on the chart because when bid and ask prices change, the spread changes too.

Now, in the MT4 trading platform, you have a window called the “market watch” where all the currencies are listed with their bid and ask prices, where you can calculate spread from but it takes a long time and to make it worse, the prices are always changing.

But with this spread indicator, if you want to show the current spread of a currency pair, just place the indicator on the chart and it will give you the spread as shown on the chart below:

How The MT4 Spread Indicator Works

After you’ve saved it in your “indicators” folder, you need to restart your trading platform and click and drag that indicator over to the chart you want the spread indicator to display on.
What it shows on the the chart is the current live spread that is happening.
A 2.5 pips spread will read as Spread:25 Points on the chart.

What Is The Spread Indicator MT4 Useful For?

Apart from trying to calculate the spread yourself based on the mt4 market window, this one does it for you on the chart that you are interested in.

The mt4 spread indicator is also really useful when you are a trader who likes to trade forex news.

It would be good to see how the spreads increase before and during news time so you can decide when to buy, where to place your orders etc, and where to place stop loss.