Ask Price Correction
I know at least one broker (FXDD.com) displays inaccurate ask price on their demo
and maybe on their live accounts as well. The normal bars and
candle sticks are bid prices rather than ask prices. You can turn on a line that shows Ask price but
if that line is not accurate, it can cause problems. I want to see something for ask price so when I
go long, the entry price is not hanging out in empty space far from the "real" prices. Just my preference
and my desire to estimate where the market really is at any moment.
The ask price is correct
in the left side tick display but not on the main chart window.
This simple indicator places a red text tag at the ask price on the right hand side of the most recent bar. This helps you see where a buy position will appear in the price bars (which are bid prices). It also indicates more accurately when a take profit or stop loss will be hit.
The indicator is free. Download by clicking
Download AskPriceCorrection.zip Now...
Once downloaded. Open the zip file using Winzip or 7-zip and place both files
into your /experts/indicators/
directory, which is inside your Metatrader installation. Close and reopen Metatrader
in order for the "askpriceCorrecion" indicator to
show up in the left side navigator window of Metatrader. Then drag that name onto any chart
where you want to see the Ask Price Corrected indicator tag. The chart must have "shift" turned on in options in
order to show the Ask Price tag to the right of the most recent bar.