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Color Spread Indicator for Visualizing Current Trading Costs

Article MQL5 code base
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Summary

The document introduces a chart indicator that represents the current bid–ask spread as a colored line. Its stated purpose is to make the spread visible over time, offering traders a simple way to monitor this trading cost alongside price information.

The text provides no details about how the line’s colors map to spread values, how the spread is calculated, or whether the indicator uses live or historical data. It also supplies no tests, performance results, or trading rules. The indicator was originally implemented in MQL4 and published in 2015; those publication details do not establish its accuracy or usefulness across platforms and market conditions.

Key ideas

  • The indicator displays the current spread as a colored line.
  • The document does not explain the color scale or spread calculation.
  • It describes a charting aid, not a trading strategy or performance study.
  • The original implementation was published in 2015.

Tags

Technical indicatorsExecutionMarket microstructure

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.