Spreads - MetaTrader 5 Script - MQL5 #57620 | Forex Indicators Download - MT4/MT5 Resources

Spreads are realized through the difference in quotations of two trading instruments. If the symbol quote moves in the opposite direction - the second symbol will be placed in the opposite direction. In this case, the spread is calculated from the sum of quotes.

Only the quote of the second symbol of the spread will be placed in reverse. Variable names have clear meanings. This indicator must be used when trading both symbols of the spread - quotes based on the start - end time of the trading session.

This indicator can be used when trading spreads: flat trade - increase - sell, decrease - buy. There may also be differences in the interpretation of indicator values. is tradable

Lines - Support and resistance levels and the sloping lines from the spread chart after crossing them.

The code is commented out in detail, in order to set the indicator on the first symbol of the spread, a variable is used to turn it into an integer for easier viewing and analysis of the indicator levels and values,

where we specify the number of decimal places as the multiplier, for example if 5 decimal places are quoted then the value is set to 100000.

 integer coefficient 1 = 100000;

 integer coefficient 2 = 100000;

 Enter a double weighting factor 1 = 1 ; // Scale factor for the first spread trading symbol (open interest)
Input integer integer coefficient 1 = 100000 ; // Number of quotation marks Sym 1
Enter string symbol 2 = "USDCAD" ; //Second spread symbol
Input Boolean Symbol2_Reverse = True ; //Reverse correlation
Enter a double weighting factor 2 = 1 ; // Scale factor (open interest) for the first spread trading symbol
Input integer integer coefficient 2 = 100000 ; // Number of quotation marks Sym 2

In fact, you can use multiple interpretations of the indicator values ​​as well as level breakdowns and bounces - for example, variability is available and you can view and choose the ideological variant that best suits you.

Suitable variant.

For example, you can use trend interpretation of spread quote movements, for example by seasonality.

Example using the classic interpretation of the AUDUSD-USDCAD spread, trading within the range. It is also possible to overlay standard figures from technical analysis and technical indicators (such as envelopes) on the spread chart to explain their values ​​more clearly.

Attachment download

📎 spreads.mq5 (8.91 KB)

Source: MQL5 #57620