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Spread Monitor Live

FREE

Published: 15 June 2026

Current version: 1.0

Spread Monitor Live

Utilities
Aleksandr Bezverkhikh
Aleksandr Bezverkhikh
Russia

934
1 topic 3 comments
Version: 1.0

📊 Spread Monitor Live

🔥 Real-time Spread Monitoring Tool for MT5

Version: 1.00
Last update: 15.06.2026
Author: Aleksandr Bezverkhikh

📖 Description

Spread Monitor Live is a lightweight and efficient indicator for MetaTrader 5 that displays the current spread in real time directly on your chart. Perfect for scalpers, day traders, and anyone who needs to keep a close eye on trading conditions.

The indicator shows the spread in points with clear color coding, allowing you to instantly spot when spreads widen beyond your comfortable trading range.

✨ Key Features

Feature	Description
Live Spread Display	Shows current spread in points in real time
Color Coding	TEAL (normal) → ORANGE (warning) → RED (critical)
Customizable Alert Threshold	Set your own warning level
Sound Alerts	Optional audio notification (OFF by default)
Low Resource Usage	Minimal CPU footprint

🎯 Why You Need This

✅ For Scalpers – Every pip matters. Know exactly when spreads are tight enough to enter.

✅ For News Traders – See spread expansion instantly before volatility hits.

✅ For Broker Analysis – Compare which broker gives you the best spreads.

✅ For Risk Management – Avoid entering trades when spreads are abnormally wide.

⚙️ Input Parameters

Parameter	Default	Description
WarningSpread	20.0	Alert when spread exceeds this value (in points)
bPlaySound	false	Enable/disable sound alerts
SoundFile	"alert.wav"	Custom sound file name
NormalColor	clrTeal	Color for normal spread
WarningColor	clrOrange	Color for warning level
CriticalColor	clrRed	Color for critical level

🚀 How to Use

Drag and drop the indicator onto any chart in MT5
Spread will appear in the top-left corner
TEAL color = normal conditions
Orange = spread exceeds warning level
Red = spread is critically wide (1.5x warning level)
Enable sound alerts in settings if desired

💡 Use Cases

📉 Day Trading

Keep the indicator on your main chart to avoid entering during spread spikes.

🔬 Broker Comparison

Run the indicator on multiple brokers simultaneously to compare real-time spreads.

⏰ Session Analysis

Monitor how spreads behave during Asian, London, and New York sessions.

⭐ Why Choose Spread Monitor Live?

✅ Clean, minimalistic design – no clutter
✅ Bold font for easy reading
✅ English labels for international users
✅ Sound alerts (optional)
✅ Lightweight – no heavy calculations
✅ Works on any symbol (Forex, Crypto, Indices, Commodities)

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