Spread Hi Lo Indicator

Spread Hi Lo Indicator

The Spread Hi Lo indicator displays highs/lows and the spread of an asset.

The spread of financial assets is not static; it changes continually as the market moves from one zone to another. Consequently, the market spread plays an essential role in the success of a forex trader because it can mar or make a trade setup.

Therefore, the Spread Hi Lo indicator is a MetaTrader 4 (MT4) trading tool that displays the current market spread of a financial instrument. Besides, it also displays other important variables like the highs and lows of past price actions.

Features of the Spread Hi Lo Indicator

The Spread Hi Lo indicator was built on algorithms that keep a tab on the changing volatility of the price to display the current market spread. It also visually displays the highs and lows of past prices with horizontal lines.

Furthermore, the indicator’s parameters are customizable. For instance, a user may shift the position of the indicator’s dashboard to any side on the MT4 chart for convenience.

Benefits of the Indicator
Handy for trade entry/exit: The indicator can come in handy during trade entries or exits, especially for scalpers and day/intraday traders. In other words, it can help a trader avoid opening a trade position due to high spread, for example.

Displays potential support/resistance zones: The indicator’s lines are potential turning points of the price. Therefore, a forex trader may anticipate a market reversal when the price reacts at the horizontal zones or a trend continuation when it breaks out.