The FloatingSpread indicator is designed to provide traders with a real-time visual representation of the "spread" across four different currency pairs simultaneously. In trading, the spread is the difference between the белting price (the price at which you can sell) and the asking price (the price at which you can buy). This tool helps you monitor the liquidity and transaction costs of multiple markets in a single glance.
Core Functionality
The script monitors four specific currency pairs—which can be customized by the user—and calculates their respective spreads based on the smallest price unit (point) of each pair. By normalizing these values into "points," the indicator allows for an apples-to-apples comparison between different types of currencies (for example, comparing a Major pair like EURUSD against a volatile one like USDJPY).
How it Works
- Data Retrieval: The script automatically fetches the live Ask and Bid prices for four designated symbols from the market.
- Validation Check: Before performing any calculations, the tool verifies that all four currency pairs are currently active and providing data. If a symbol is missing or unavailable, the system will trigger an alert to notify the user immediately.
- Calculation Logic: For each of the four pairs, the script subtracts the Bid price from the Ask price and then divides that result by the symbol's specific point value. This converts the raw price difference into a standard numerical format.
- Visual Mapping: The results are plotted as four distinct lines on a separate window in your trading platform. Each line is assigned a unique color, allowing you to see how the spreads for different currencies fluctuate over time.
Key Benefits
- Multi-Market Monitoring: Instead of checking the spread on four different charts, you can observe all four markets in one unified window.
- Volatility Awareness: Sudden spikes in the spread often indicate lower liquidity or high market volatility, providing a valuable signal for risk management.
- Customization: The user has the flexibility to define which four currency pairs they wish to track, making it adaptable to different trading strategies.
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floatingspread
//+------------------------------------------------------------------+
//| FloatingSpread.mq4 |
//| Yuriy Tokman (YTG) |
//| yuriytokman@gmail.com |
//+------------------------------------------------------------------+
#property copyright "Yuriy Tokman (YTG)"
#property link "yuriytokman@gmail.com"
#property version "1.00"
#property strict
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_color1 clrBlue
#property indicator_color2 clrRed
#property indicator_color3 clrGreen
#property indicator_color4 clrTeal
input string Symbol_1 = "EURUSD";
input string Symbol_2 = "GBPUSD";
input string Symbol_3 = "USDCHF";
input string Symbol_4 = "USDJPY";
input int DrawBars=130;
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double ExtMapBuffer4[];
string name="FloatingSpread";
int Draw_Bars;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int OnInit()
{
//--- indicator buffers mapping
IndicatorShortName(name);
IndicatorDigits(1);
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexLabel(0,Symbol_1);
SetIndexStyle(1,DRAW_LINE);
SetIndexBuffer(1,ExtMapBuffer2);
SetIndexLabel(1,Symbol_2);
SetIndexStyle(2,DRAW_LINE);
SetIndexBuffer(2,ExtMapBuffer3);
SetIndexLabel(2,Symbol_3);
SetIndexStyle(3,DRAW_LINE);
SetIndexBuffer(3,ExtMapBuffer4);
SetIndexLabel(3,Symbol_4);
//---
return(INIT_SUCCEEDED);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int OnCalculate(const int rates_total,
const int prev_calculated,
const datetime &time[],
const double &open[],
const double &high[],
const double &low[],
const double &close[],
const long &tick_volume[],
const long &volume[],
const int &spread[])
{
//---
double pa=MarketInfo(Symbol_1,MODE_ASK); double pb=MarketInfo(Symbol_1,MODE_BID);
if(pa==0 && pb==0){Alert(" ERROR: Check up in the review of the market presence of a symbol: "+Symbol_1);return(0);}
pa=MarketInfo(Symbol_2,MODE_ASK); pb=MarketInfo(Symbol_2,MODE_BID);
if(pa==0 && pb==0){Alert(" ERROR: Check up in the review of the market presence of a symbol: "+Symbol_2);return(0);}
pa=MarketInfo(Symbol_3,MODE_ASK); pb=MarketInfo(Symbol_3,MODE_BID);
if(pa==0 && pb==0){Alert(" ERROR: Check up in the review of the market presence of a symbol: "+Symbol_3);return(0);}
pa=MarketInfo(Symbol_4,MODE_ASK); pb=MarketInfo(Symbol_4,MODE_BID);
if(pa==0 && pb==0){Alert(" ERROR: Check up in the review of the market presence of a symbol: "+Symbol_4);return(0);}
//---
if(Bars<=2)
{
Print(" no bars, you need to download quotes !"+" Bars="+DoubleToStr(Bars,0)+" DrawBars="+DoubleToStr(Draw_Bars,0));
return(0);
}
Draw_Bars=Bars-2;
if(Draw_Bars>0 && Draw_Bars<Bars-2)Draw_Bars=DrawBars;
for(int i=Draw_Bars; i>=0; i --)
{
ExtMapBuffer1[i+1] = ExtMapBuffer1[i];
ExtMapBuffer2[i+1] = ExtMapBuffer2[i];
ExtMapBuffer3[i+1] = ExtMapBuffer3[i];
ExtMapBuffer4[i+1]=ExtMapBuffer4[i];
}
//---
ExtMapBuffer1[0]=(MarketInfo(Symbol_1,MODE_ASK)-MarketInfo(Symbol_1,MODE_BID))/MarketInfo(Symbol_1,MODE_POINT);
ExtMapBuffer2[0]=(MarketInfo(Symbol_2,MODE_ASK)-MarketInfo(Symbol_2,MODE_BID))/MarketInfo(Symbol_2,MODE_POINT);
ExtMapBuffer3[0]=(MarketInfo(Symbol_3,MODE_ASK)-MarketInfo(Symbol_3,MODE_BID))/MarketInfo(Symbol_3,MODE_POINT);
ExtMapBuffer4[0]=(MarketInfo(Symbol_4,MODE_ASK)-MarketInfo(Symbol_4,MODE_BID))/MarketInfo(Symbol_4,MODE_POINT);
//--- return value of prev_calculated for next call
return(rates_total);
}
//+------------------------------------------------------------------+
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