In version 6.5, Pair Trading station can work together with Pair Trading Spread Analyser. Pair Trading Spread Analyser is free and supportive tool for our Pair Trading Station Customer. Therefore, Pair Trading Spread Analyser will work when you have the Pair Trading Station installed in your computer. Below is the download link for the free Pair Trading Spread Analyser.
How to use Pair Trading Spread Analyzer is simple as ABC.
1. Firstly, run our Pair Trading station in your MetaTrader (any between MT4 and MT5) as usual.
2. After you have attached Pair Trading Station, in your chart, click on Analyzer Pair button to start Pair Trading Station.
3. Now Start Pair Trading Spread Analyzer and click on Start button.
4. That is it. You will start to see spread for each currency pairs in Spread Analyzer.
Please note that Pair Trading Station is standalone trading system. Therefore, you can make the trading decision with Pair Trading Station alone too. If you feel enough with Pair Trading Station alone, then you do not need to use the Pair Trading Spread Analyzer. Pair Trading Spread Analyzer is only extra for your convenience.
From my experience, using Pair Trading Spread Analyzer, you can use the powerful sorting and searching features to identify the weak and strong currency pairs to trade. This might be not too significant. However, when you have a lot of rows in your Pair Trading Station, then you will really appreciate this sorting and search features, which helps to quickly identify important trading signals.
Important note about Pair Trading Spread Analyzer
For the Pair Trading Spread Analyzer to run, you must run Pair Trading Station in your MetaTrader first. For starter with pair trading, we recommend to use the spread around 4 for your trading (i.e. strong signal) until you get skilled with pair trading. Later you might use the insignficant spread for your trading too when you know what you are doing.
Two good references to read to trade with Pair Trading Station.