Spread Tracking Indicator?

Hey, does anyone know of an indicator that will track spreads? Thanks for any help.

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Sorry Girlfriend,

Thanks for taking the time to post your dissaproval of the thread. It says a lot about you. Thanks also for being a helpful member of the FF community.

My dudes out there:

Let me be a little more specific..The indicator I'm looking for is one that would look like a histogram, where the spread is actually recorded and charted. It would be much like a tick chart where trades make up the x axis instead of uniform time. It might not even need to be a histogram but a line or dotted line that flowed in a small range between 0 and 25.

I have searched for this type of thing but cannot find it.

Hmm why isn't viking a commercial member?

On a side note does this have anything to do with T+E's section on dealers?

Sorry but I'm not aware of such an indicator.

Ok, try this,

It charts and tracks minimum and maximum values of spread per bar. It also writes the instantaneous spread at the top left of the main window.

The problem with trying to chart a specific spread is that it is pretty arbitary.......the line would only record the actual spread on the last tick of each bar which I don't believe tell you very much. Unless you are specifically looking for bar-close spreads, the line does not tell you much about the activity in that bar. At least min and max will give you a feeling for what is going on.

ups,

kenny, we post almost in the same time. i delete mine. but after seeing your indi, i think it would not be bad to post my version as it uses a different style

Better indi

Thanks Kenny,

This is is kind of what I'm looking for, but the tick by tick charted spread is what I in fact need. It's a kind of PA that nobody even thinks of paying any attention to. It would look like a tick chart with both the bid and ask being tracked, but it would move faster than a tick chart because quotes change more often than price. I beleive 'spread action' hold lots of valuable information. Thanks for your guys help and sorry I'm not more technically or programming astute.

I'll go into all this more a little later, but the basic premise I'm going on is this. The banks are the ones handling all the market wide flow, when they trade with someone who they beleive is informed, their quotes are immeadiatley adjusted. Market orders can momentarily change quotes and spreads as well. If price is making a relative high and all of a sudden the ask remains at 1.2540, while the bid drops to 1.2537 and you see price drop on the chart then you can infer that the sharks are out hunting. Many times this will happen is a fraction of a second and most of us miss it, thats why I need to track the spreads while following market order action on my price chart. There's more to it, but this is the foundational thought. Just remember, the sharks always eat first but they leave more than enough left overs for us parasites to get fat too.

One more thought..Data quality will be very important to this. The MT4 bucket shops already have the spread so padded for the sake of thier own profits that this type of indicator won't be helpful. I use broco and they offer futures data but I don't know what the quality of the data stream is. Needless to say, some experimenting will need to be done if this indicator can be born in the MT4 world.

Thanks again everyone,

Scotty

Scotty, I've looked for that too. Can't find it.

Here's what I use "instantaneously" as a proxy for liquidity (not a line chart, just a digital readout of changing spread by instant):

Narrower spread = more liquidity = big players engaging at the price level.

I also see this thread:

http://www.forexfactory.com/showthread.php?t=163131

Hi Sangmane, salam, khabar baik.

I like your histogram spread style, simple, but I observe that the past candles are yet fluctuating, it shouldn't have changes as all the spreads for the past candles should not have changes.

Secondly, for the current candle, it is fluctuating, I would like to check with you which method you're using :-
1) using the current candle close's spread - then no more fluctuating
2) using the current candle average's spread - then it should be fluctuating