The Spread Hi-Lo Indicator for MT4 is a smart and lightweight tool that provides traders with real-time market data — including current spread, daily high and low, average range, and next candle time — directly on their MetaTrader 4 chart.
This indicator helps you monitor price behavior, market volatility, and spread widening instantly, so you can make faster trading decisions without needing multiple tools.
Designed for Forex, Gold, Indices, and Crypto pairs, it’s a must-have utility for traders who focus on precision, scalping, or spread-sensitive strategies.
Key Features
Real-Time Spread Display
Shows the current bid-ask spread in pips, color-coded based on its width — green for low spread, gold for neutral, and brown for wide spreads.
Daily High and Low Levels
Automatically marks the highest and lowest price of the day, allowing you to identify intraday breakout or reversal zones.
Average Daily Range Calculation
Displays average volatility from the last 1, 5, 10, and 20 days, helping you anticipate how far price may move within the session.
Next Candle Countdown Timer
Shows the remaining time for the current candle to close, keeping scalpers and short-term traders informed.
Symbol & Timeframe Label
Displays your active symbol (e.g., EURUSD, GBPJPY) and current timeframe (M1, M5, H1, etc.) for quick reference.
Customizable Colors & Layout
Choose your own color theme for text, background, and data to match your chart style.
Options include DodgerBlue, Silver, Brown, Gold, and more.
Safe, Lightweight, and Non-Repainting
The indicator runs efficiently without lag and does not repaint or interfere with other tools.
How It Works
The !_Spread_Hi_Lo.mq4 indicator automatically calculates and displays the following values on your MT4 chart:
- Current Price – updates every tick.
- Daily High & Low – calculated from today’s candle.
- High-Low Range (D1) – total pips between daily high and low.
- Average Range (1–20 Days) – average volatility of the past 20 sessions.
- Spread (in pips) – live bid-ask difference.
- Next Candle Timer – countdown to next candle.
- Symbol & Timeframe Info – visible in one glance.
This allows you to see how active the market is, whether the spread is suitable for entry, and whether the price is near extremes.
Indicator Parameters Explained
| Parameter | Description |
|---|---|
PRange | Defines the look-back period for high/low calculation. |
Shift_X / Shift_Y | Adjusts label position on chart. |
Show_Symbol | Displays or hides the symbol and timeframe. |
Price_color_Up / Dn / Lo / Hi | Set custom colors for price and labels. |
MAFast_Period / MASlow_Period | Used for minor trend coloring of price. |
Background_S | Change or disable background panel color. |
Show_Price | Enables price and info panel display. |
Why Use the Spread Hi-Lo Indicator MT4
This tool is ideal for:
- Scalpers – who need to monitor spread changes in real time.
- Day traders – who track daily range and volatility.
- Swing traders – who watch highs/lows to time reversals.
- News traders – who monitor spread widening during major events.
It simplifies data presentation — everything you need is visible in one clean dashboard.
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How to Install
- Download the indicator file
!_Spread_Hi_Lo.mq4. - Open MetaTrader 4 → File → Open Data Folder → MQL4 → Indicators.
- Paste the file and restart MT4.
- In MT4, open Navigator → Indicators → Refresh.
- Drag
!_Spread_Hi_Loonto your chart and adjust the inputs if needed.
The indicator will instantly show all key data on your chart — spread, highs, lows, range, and time.
Benefits of Using This Indicator
- Real-time spread tracking
- High-low and range visibility
- Helps detect volatility spikes
- Ideal for scalping and intraday trading
- Compatible with all MT4 versions
- Lightweight and accurate
Conclusion
The Spread Hi-Lo Indicator for MT4 is a powerful visual dashboard that enhances your market awareness.
It gives traders instant access to spread, volatility, and daily range — directly from the chart — saving time and improving accuracy.
Whether you’re a scalper or a long-term trader, this free MT4 indicator helps you make smarter, faster trading decisions.
FAQ
Q1: Is this indicator free to use?
Yes, the Spread Hi-Lo MT4 indicator is completely free to download and use.
Q2: Does it repaint?
No, it doesn’t repaint. It uses completed candle data for accurate readings.
Q3: Which symbols does it support?
It works on all symbols — Forex, Metals, Indices, and Cryptos.
Q4: Is it suitable for scalping?
Yes, it’s perfect for spread-based and short-term trading strategies.
Q5: Does it affect MT4 performance?
No, it’s optimized for minimal CPU usage and smooth operation.
