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Basically, no new position if spread > n.

For example, spread protection is part of 10points_3_smi_1.01.mq4 (EA) posted at http://www.forex-tsd.com/martingale-average-cost-hedging/3473-10points-3-mq4-409.html#post409645 (inside zip file, EA folder).

Although the example uses a calculation, I think a fixed pip value would also be nice. Maybe in some future version of SB?

(WARNING: To any would-be 10points3 traders, the above link is provided as an example of a feature only. The EA will blow your account without running appropriate filters).

To anyoneone desiring spread protection right now, I coded the attached indi which should allow us to build TA conditions that handle the spread (and swaps too). Note that this indi measures the spread in points, and measures swaps per unit in the base currency of the account... I think.

Thanks. I would calculate the spread using ask and bid and wouldn't use the code to get the broker spread. I have seen cases where the broker spread is different than the actual calculation.

Thanks. Good to know.

It appears I retro-invented the wheel once again. Here's a link to a bid ask indicator and a spread indicator for comparison: http://codebase.mql4.com/8147. The code fix for 5 digits is about halfway down the page.

And to make spread protection simpler, here's an indi I made in TIB. It's merely Mode 0 of the indi in my last post minus Mode 1 of same (Bid-Ask). Now anyone can import it into SB and put the Bid-Ask on one side and a User Defined Number on the other side. (You still need the original indicator in your MT4/experts/indicators folder).

By the way, the whole point of this is to keep your dealer's spread from eating into your trade profit during times of high volatility. So just punch a reasonable spread number into your TA and add it to your other TA's using AND.

This is for 5 digit pricing. Original coder's copyright prints on your screen (not mine). Enjoy.

Hope I'm allowed to post the indi mq4 along with the moi. We'll see.

Hello

Im also looking to protect my account from High spreads. Im currently using

"MarketInfo(Symbol(),MODE_ASK)-MarketInfo(Symbol(),MODE_BID)<=3.0"

ANDed to my Molanis EA. However it does not appear to be working. The MOL file posted earlier in this post was too old for my version of Molanis to open. Im running the latest R2 version. Im hoping that someone can paste the mql line here.

Should be 0.0003 for 3 pips