KNOW YOUR BROKER SPREADS
We have had a considerable number of emails regarding our previous email to clients about fixed and variable Forex broker spreads. See the article BROKER SPREADS
Expert4x has deleloped a new broker spreads monitoring EA, for you our client base, which will give amazing and scary information about how your broker spreads vary from moment to moment and during the day. We have even noticed variations on fixed spread accounts so this indicator will be an eye opener for most Forex traders using MT4.
Do not trade with stops that are less than 20 pips if you do not have the information produced by this EA.
Below is some on the information that will be available when you use this Expert Advisor.
It will show the current spread charged, average spread since loading the indicator, The minimum spread enjoyed, the maximum spread charged since the EA was active. We have also then added the times at which the minumum and maximum spreads have occured. The current spread charged changes colour based on whether the current spread is above, below or at the average.
Then there is a spread distribution chart that will show you what % of time the spread has remained in the various spread levels (which you determine).
Please watch this video to see what you can do with this EA. Please note that video shows the EA and an indicator. The indicator was changed to an EA to improve the historic information available but the functionality is identical
Warning: – When using it for the first time get ready for a few shocks.
- SHOCK 1: Broker spread variations during the day is critical information for any trader. We have seen huge variations of 4 to 6 pips in quite times on certain currencies and brokers. With this information you will know for sure how much the spreads vary for each currency. These variations can result in not only your STOPS being hit un-expectantly but more importantly will impact your ENTRY prices and how your TARGETS are reached.
- SHOCK 2: You will be shocked to see what the actual average spread charged is day by day when brokers use variable and even fixed spreads.
- SHOCK 3: We have recorded very high spreads when in high liquidity times of trading when brokers should be charging and maintaining lower spreads.
- SHOCK 4: The maximum and minimum spreads for a day are sometimes within minutes of each other due to unexplained spikes that occur in seconds – too fast for the eye to see…..
You really can not afford to be without it !!
The EA has the funtionality of an indicator and with no automatic trading abilities. It supplies valuable information. The EA has full free technical support and you will be given access to a personal webpage which will contain your fully automated download information.