This is an indicator that allows you to check the past data on the spread from your brokerâ„¢s account. All the data is being recorded and you can check at any time what was the Maximum, Minimum and Typical Spread in any hour. All you need to do is to allow Low Spread Seeker to keep track of your data and then you will just check how it was changing during the day.
This information is useful if you want:
To select a broker for real trading. Create your demo account or real account with minimal funds in brokers between which you hesitate. Place the indicator and let it work more than one day and you will see spreads of every hour of the day and how many times they are repeated.
To select the hours in which you may trade. Indicator shows:
in which hours the spread was minimal most frequently and how much it was.
in which hours the broker has extended the spreads and what value they have reached.
How much is the typical spread that the broker strives to keep.
It is seen if there is undue widening of the spread and etc.
The indicator works with five decimal digits brokers. In case of interest opportunity for brokers with four digits will be added in next variants.
Max_spread — the maximum expected spread. If the spread exceeds Max_spread a counter Higher_Spreads counts how many times this has happened. If you put Max_spread = 20 and the spread becomes 23 — counter Higher_Spreads will increase by 1. If you are interested in how much and when exactly spread was over 20 increase Max_spread.
Clean_History — if the indicator has accumulated history which you are not interested in and you want to start monitoring initially, set Clean_History = true and the indicator will reset counters. Attention! If you do not want to repeat this action every time you start your terminal, change to Clean_History = false.
Colors_Settings — options to set the colors of the elements of the chart to your liking.
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