Spread Monitor Live MT4

📊 Spread Monitor Live

🔥 Real-time Spread Monitoring Tool for MT4

Version: 1.00
Last update: 15.06.2026
Author: Aleksandr Bezverkhikh

📖 Description

Spread Monitor Live is a lightweight and efficient indicator for MetaTrader 4 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

  1. Drag and drop the indicator onto any chart in MT4

  2. Spread will appear in the top-left corner

  3. TEAL color = normal conditions

  4. Orange = spread exceeds warning level

  5. Red = spread is critically wide (1.5x warning level)

  6. 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)

Make your trading smarter – watch your spread! 📊


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