Market / MetaTrader 5 / Indicators /

Spread Monitor Live Spread Status and Alert

FREE

Published: 23 June 2026

Current version: 1.1

Spread Monitor Live Spread Status and Alert

Indicators
Md Billal Hossen
Md Billal Hossen
MQL5 Expert Advisor Developer at Devcat Studio

Bangladesh

266
I build Expert Advisors that actually work in live markets — not just backtests.
Version: 1.1

TITLE / OPENING PARAGRAPH:

Spread Monitor displays your broker's live spread directly on the chart — updated every tick, color-coded by status, with an optional alert when the spread gets too wide. Know before you trade whether the spread is normal or dangerous.

HOW IT WORKS:

The indicator reads the current spread every tick and shows it as a colored panel on your chart:

🟢 LOW — spread is within your normal range (green)
🟡 MID — spread is elevated, trade with caution (yellow)
🔴 HIGH — spread is dangerously wide (red)

You define the thresholds yourself. The panel resizes automatically to fit any symbol name or spread value.

FEATURES:

Live spread in points, updated every tick
Color-coded status: LOW / MID / HIGH
Customizable thresholds for each status level
Optional alert when spread exceeds your limit — fires once per breach, resets when spread drops (no spam)
Configurable corner position, font, font size, and offset
Auto-resizing background panel
Works on any symbol and any timeframe
Zero performance impact — reads data already available in the terminal
Clean removal on detach — leaves no objects on the chart

INPUT PARAMETERS:

Display:

Corner — Panel position on the chart (Top-Left, Top-Right, Bottom-Left, Bottom-Right)
X Offset — Horizontal distance from the corner in pixels (default: 10)
Y Offset — Vertical distance from the corner in pixels (default: 30)
Font Size — Size of the text label (default: 11)
Font Name — Font used for the label (default: Arial Bold)
Show Symbol — Show the symbol name alongside the spread value (default: true)

Thresholds (points):

LowMax — Spread at or below this value shows GREEN status (default: 10)
MidMax — Spread at or below this value shows YELLOW status. Above it shows RED (default: 25)

Alert:

Enable Alert — Turn the spread alert on or off (default: off)
Alert Max Spread — Spread level that triggers the alert in points (default: 30)
Alert Once — Fire the alert only once per breach, reset when spread drops (default: on)

NOTES:

LowMax must be less than MidMax. If invalid values are entered, the indicator shows an error and does not load.
Spread is read in points. For 5-digit brokers, 10 points = 1 pip.
The indicator works during market hours only. No ticks = no updates.

ABOUT DEVCAT STUDIO:

We build professional-grade MQL5 tools focused on clean code, zero bloat, and real trader needs. Every product is tested on live charts before release.

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Spread Monitor Live Spread Status and Alert

Md Billal Hossen