Draw Min/Max Spread

by colga645 in category Other at 01/06/2015
Description

FX brokers make a lot of claims about minimum and maxim spread of an instrument. But is it really reliable?

Use this indicator to display real minimum and maxim spread from moment the indicator is initialized.

I used Draw Spread by gorin (http://ctdn.com/algos/indicators/show/331) as a basis.

Note: after adding the indicator, initial spread values as set temporary (for calculation convenience) and those should be update almost immediately, so don't get scared with 1000 minimum spread value.

Please give some feedback how useful this indicator is for you.

Thank a lot...

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How to install
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Formula / Source Code
Language: C#
Trading Platform: cAlgocTrader
using System;
using cAlgo.API;
using cAlgo.API.Internals;
using cAlgo.API.Indicators;

namespace cAlgo.Indicators
{
    [Indicator(IsOverlay = true, AccessRights = AccessRights.None)]
    public class DrawMinMaxSpread : Indicator
    {
        private double maxSpread = 0;
        private double minSpread = 1000;

        public override void Calculate(int index)
        {
            if (IsLastBar)
                DisplaySpreadOnChart();
        }

        private void DisplaySpreadOnChart()
        {
            var spread = Math.Round(Symbol.Spread / Symbol.PipSize, 2);
            if (spread > maxSpread)
                maxSpread = spread;
            else if (spread < minSpread)
                minSpread = spread;
            string minText = string.Format("{0}", minSpread);
            string maxText = string.Format("{0}", maxSpread);
            ChartObjects.DrawText("minmaxSpread", "\t" + "Min/Max Spread: " + minSpread + "/" + maxSpread, StaticPosition.TopCenter, Colors.LightSalmon);
        }
    }
}
Comments

colga645 - June 01, 2015 @ 05:01

Couple broker examples, for lazy Monday Asian session:

IC Market True ECN account: 0.1/0.5 (min/max)

Pepperstone Standand account: 1.1/1.7 (min/max)

colga645 - June 01, 2015 @ 06:45

Forgot to add, those values are for EURUSD. Mid Asian session:

IC Market ECN account minimum spread dropped to actually -0.4 (minus). Dont know for how long, but here we are... No change for Pepperstone.

 

 

colga645 - June 01, 2015 @ 09:36

And some details from first 30 minutes of European session on EURUSD:

 

IC Markets: -0.1/1.8 (min/max)

Pepperstone: 1.1/1.7 (min/max)

As you can see its good to verify spread claims by specific provider and more important check volatility in different markets and time of day.

colga645 - June 01, 2015 @ 17:05

And here we are, the most interesting experiment, spread seconds before and after US PMI:

IC Markets: -0.2/13.3 (min/max)

Pepperstone: 1.1/5.1 (min/max)

Obviously we are talking about live accounts. Demo accounts seems to be, not surprisingly, less moderate.

 

Have fun with this indicator...

 

9600302 - June 30, 2015 @ 13:45

Thanks!

Very useful indicator.

Pepperstone has a spread of  0.1/0.4  now btw.

 

colga645 - July 01, 2015 @ 16:03

Thanks 9600302. I find this indicator useful to trace extreme spreads around major news. For instance I have seen quite a few times spread going into 20-30 points area at the time, whereas normal times is below 1. Sometimes action is so fast that its hard to trace few markets at the same time. This indicator freezes extremes to a review later.

colga645 - July 02, 2015 @ 16:03

... and for your interest here are spreads in points on live accounts from two broker right at Nonfarm Payrolls release:

 

usdjpy
  icmarket: 32.1
  pepperstone: 29.8

gbpusd
  icmarket: 33.9
  pepperstone: 17.4

eurusd
  icmarket: 77.9
  pepperstone: 13.9

5