Indicators: XAUUSD Spread Alert Utility MT5
One practical way to use a spread alert is as a hard entry gate, not just a warning. I'd compare current spread to a broker/session baseline, set a max-spread threshold by symbol, and log the worst moments around rollover or news so the utility can block entries when conditions are poor. Are you using it as a simple alert, or as a condition that can stop the EA from opening trades?
One practical way to use a spread alert is as a hard entry gate, not just a warning. I'd compare current spread to a broker/session baseline, set a max-spread threshold by symbol, and log the worst moments around rollover or news so the utility can block entries when conditions are poor. Are you using it as a simple alert, or as a condition that can stop the EA from opening trades?Hi Hesham,
Hi Hesham,
Thank you for the excellent feedback and suggestions!
Currently, this is designed strictly as a visual and audio chart utility (a simple alert) to keep traders informed of high spread conditions manually. It does not have the ability to block trades or interface directly with other EAs out of the box.
However, your idea of using it as a hard entry gate—especially with logging rollover/news peaks and comparing against a baseline—is a fantastic concept for an actual EA integration or an upgraded utility version. I will definitely take these ideas into consideration for future updates!
Best regards,
Brijesh
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XAUUSD Spread Alert Utility MT5:
Educational MT5 chart utility that monitors XAUUSD spread on the chart and alerts when spread rises above user-defined warning or danger levels.
Author: Brijesh Jaiswal