miyako.pro

Broker Spread Overlay

This script is a simple overlay for showing the spread of Market Maker brokers. Such as 1broker.com or trading212.com These brokers set the price higher than the actual price in the form of a spread. Often making it harder to trade due to the difference.

This overlay offers two views.
- A price line showing the difference.
- Candlesticks , either as an overlay or unmerged to their own window.

If you like this indicator and/or it has helped you to earn money, please donate.
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study("Broker Spread Overlay", overlay=true)

oneSpread = input(defval=0.0002, type="float", title="Spread")

oneOpen = security(tickerid, period, open) + oneSpread
oneHigh = security(tickerid, period, high) + oneSpread
oneLow = security(tickerid, period, low) + oneSpread
oneClose = security(tickerid, period, close) + oneSpread

linecolor = open < close ? green : red

barToggle = input(type=bool, defval=false, title="Show Candles")
lineToggle = input(type=bool, defval=true, title="Show Price Line")
plotcandle(barToggle ? oneOpen:na, barToggle ? oneHigh:na, barToggle ? oneLow:na, barToggle ? oneClose:na , title='Candles', color = linecolor, wickcolor=black)
plot(lineToggle ? oneClose:na, title="Price Line", linewidth=2, color=linecolor, style=areabr, transp=100, trackprice=true, editable=false)
smart tool! thanks for sharing!
Reply
miyako.pro coondawg71
Np ^-^ Glad it's helpful. I will be releasing a version 2 soon that will include toggles for different types of charts such as heikinashi, renko, area, kagi and line break.
Reply
coondawg71 PRO miyako.pro
cool! I look forward to it.
Reply
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