The bid ask spread forex indicator for MT4 is a handy tool that displays the bid/ask/spread in real-time for any currency pair.
The bid/ask/spread colors and fonts can be fully modified from the indicator’s input parameters.
In the EUR/USD H1 chart shown below, the ask price is 1.08382, the bid price is 1.08372, and the spread is the difference between the ask/bid price, in this case, 1 full pip.
Feel free to experiment with the different indicator’s inputs settings to suit your needs and preferences.
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Download the “Bid-Ask-Spread.ex4” MT4 indicator
Indicator Chart (EUR/USD H1)
The EUR/USD 1-Hour chart below displays the Bid Ask Spread Metatrader 4 forex indicator in action.
Basic Trading Signals
There are no signals from the Bid Ask Spread forex indicator.
Aggressive Bid/Ask Spread + Flat Trend Forex Scalping Strategy
This aggressive version uses the Bid/Ask Spread MT4 Indicator and the Flat Trend MT4 Indicator for ultra-fast scalping.
It focuses on very short-term movements during high-liquidity sessions.
The Bid/Ask Spread indicator ensures you only trade when execution costs are minimal.
Flat Trend bars give precise entries, with green bars for buy setups and red bars for sell setups.
This method is ideal for M1 and M5 charts and works best during London and New York sessions when market volatility is high.
Aggressive traders can capture multiple quick pips per trade while avoiding low-liquidity periods.
Buy Entry Rules
- Bid/Ask Spread must be very low (typically under 1 pip for major pairs).
- Flat Trend shows a green bar.
- Enter long immediately at the close of the green bar candle.
- Stop loss placed just 3–5 pips below the recent swing low (tight risk control).
- Take profit options:
- Fixed target: 5–8 pips on M1, 8–12 pips on M5.
- Exit immediately if the Flat Trend bar switches from green to red.
- Partial exit: take half profits at 5 pips (M1) or 8 pips (M5), hold the rest until bar color changes.
Sell Entry Rules
- Bid/Ask Spread must be very low.
- Flat Trend shows a red bar.
- Enter short at the close of the red bar candle.
- Stop loss placed just 3–5 pips above the recent swing high.
- Take profit options:
- Fixed target: 5–8 pips on M1, 8–12 pips on M5.
- Exit immediately if the Flat Trend bar switches from red to green.
- Partial exit: take half profits at 5 pips (M1) or 8 pips (M5), hold the rest until bar color changes.
Advantages
- Quick entries and exits maximize the number of trades in high-liquidity sessions.
- Tight stops limit risk on each micro-trade.
- Clear visual signals make it simple to follow, even for very short-term trades.
- Flexible exit methods allow traders to adapt to changing momentum.
- High probability setups when spreads are monitored carefully.
Drawbacks
- Requires very fast execution and a low-latency broker.
- Small profit targets mean spreads and commissions are more significant.
- Constant attention is needed due to rapid trades.
- Not suitable for traders who prefer longer-term or relaxed trading styles.
Example Case Study 1: EUR/USD on M1
During the London session, EUR/USD displayed tight spreads of 0.8 pips.
A green Flat Trend bar appeared on M1. A buy entry was taken with a 3-pip stop.
Price moved up quickly, hitting the 5-pip target within a few minutes.
The bar later switched to red, closing the remaining position.
Example Case Study 2: GBP/USD on M5
GBP/USD during the New York session had spreads of around 1 pip.
A red Flat Trend bar appeared, signaling a sell entry.
A short trade was executed with a 4-pip stop above the swing high.
Price moved down fast, achieving a 10-pip target.
The remaining position was closed when the bar changed from red to green.
Strategy Tips
- Always check spreads before entering; avoid high-cost periods.
- Focus on major and highly liquid pairs like EUR/USD, GBP/USD, and USD/JPY.
- Stick to tight stops and small targets; aggressive scalping requires discipline.
- Consider using a one-click execution tool to speed up order placement.
- Avoid trading during major news releases to prevent slippage.
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Download the “Bid-Ask-Spread.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (ask hide, spread hide, bid hide) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Type: overlay
