Spread Mon Kyo Indicator For MT4

Spread is one of the essential factors in the financial trading industry that can impact the cost of trading. The current market spread of an instrument can have a negative or positive effect on trade entries or exits, especially for scalpers. To this end, the Spread Mon Kyo Indicator for MT4 was developed to assist traders in monitoring the ever-changing spreads of the market. It is a custom Forex trading tool that displays the current spreads of different financial instruments on the chart.

What is spread?

Spread is simply the difference between the bid and ask price. Generally, market spreads tend to fluctuate significantly due to factors like high/low market liquidity and when the price is trading at a significant support or resistance level. This sudden change in spread can negatively affect trading activities, especially when buying/selling or exiting a trade position.

Therefore, the Spread Mon Kyo indicator can come in handy to assist traders in monitoring the market spread. Besides, it displays the spread value of multiple trading assets on the chart, enabling traders to keep a tab on the spreads of different instruments on one chart.

How to Use the Spread Mon Kyo Indicator for MT4

The above image shows how the Spread Mon Kyo indicator would look on your chart after installation. It displays the spreads of multiple assets on a separate window below the chart.

The indicator may look somewhat trivial to some traders because it doesn’t analyze the market trend or generate buying and selling signals. However, it is a valuable trading asset every trader needs to add to their chart for easy monitoring of the market spreads. For example, it can significantly impact trading decisions during trade entries.

Therefore, Forex traders can download and install the Spread Mon Kyo indicator on their chart to monitor the spreads of multiple financial assets.

Indicator Settings

• The indicator comes with the following customizable settings:
• Logon: This parameter turns ON/OFF the log.

Conclusion

The Spread Mon Kyo Indicator for MT4 assists traders in keeping a tab on the market spread of different assets. The indicator can be particularly invaluable for scalpers and high-frequency traders where small differences in spread can significantly impact trading results.