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Spread Indicator

Discussion in 'Beginners Bootcamp' started by knightal, May 16, 2010.

  1. knightal

    knightal Private, 1st Class

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    Hi All,
    I have installed/attached a spread indicator to my MT4 charts and it shows the information like this:-
    Spread: 23 points with the number changing all the time.
    My question is how do I convert this information to the actual spread that the broker charges. do I divide the number by 10? This seems to get it to somewhat close to what I'd think should be the actual spread.

    regards
    Allan
     
  2. Bowmaker

    Bowmaker Private, 1st Class

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    Allan, I assume you are using a 5 digit broker which is why the indicator shows as 23 pips. You are right when you say divide by ten, ie, 23 = 2.3 pips.
     
  3. knightal

    knightal Private, 1st Class

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    Thanks Bowmaker,

    Yes I am using a 5 digit broker. But thanks for the confirmation. Much appreciated.

    Regards
    Allan
     

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