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I am looking to implement an indicator that will show the max spread of a given timeframe and bar and plot it on MT4. I would like to use this data to get a better look at spread activities and potential manipulation of the markets (stop hunts).
My initial structure for the Indicator would be to place a marker at the price the spread was the widest for a given bar and mark distance of the spread (ask price) at that time with either a small line the width of the candle or an arrow above and below the candle showing the max spread width at the marked price level it occurred during that candle.
I want the markers for the spread to only show if they are outside of the candle Bid wick and body. So if the Ask price for whatever reason goes below the Bid price candle (rare but can happen) I would like that to show as well.