SpreadMonitor

📊 SpreadMonitor

SpreadMonitor is a professional MetaTrader 5 indicator that colorizes candles by spread level and displays an on-chart monitoring panel with current value, statistics, and history.

Created by a practicing trader with 12 years of real-account experience. Helps you avoid entering the market when spreads are abnormally high and see the real cost of trading at every moment.

🎯 What the indicator shows

  • Candle coloring by spread level:

    • 🟦 Blue — normal spread

    • 🟧 Orange — elevated

    • ⬜ Gray — high (do not trade)

  • Monitoring panel with current spread in large font

  • Statistics: average, maximum, minimum spread over N bars

  • Spread history — mini-histogram of recent bars in real time

  • Watermark — translucent "Spread.Monitor" label

✨ Key Features

🎨 Professional visualization

Candles are colorized by spread level, not by OHLC. This gives you a one-second overview of your entire history, revealing when the broker widened the spread.

📊 Full statistics

The panel displays:

  • Current spread value in points

  • Average spread over period

  • Maximum value

  • Minimum value

📈 Spread history

Mini-histogram shows the last N bars — see exactly when the spread widened and when it was normal. Each bar's color matches its spread level.

🌍 Auto language detection (11 languages)

Automatically adapts to your terminal language: Russian, English, German, Spanish, French, Portuguese, Italian, Turkish, Chinese, Japanese, Korean.

⚙️ Flexible settings

  • Spread thresholds (normal / elevated / high)

  • Colors for each level

  • Panel position and size

  • Watermark text and color

  • Toggle any element

🛠️ How to use

1. Installation

  • Copy SpreadMonitor.ex5 to MQL5/Indicators/

  • Restart MT5

  • Drag onto chart

2. Configure thresholds

  • InpNormalMax — upper boundary of normal spread (default 15 pts)

  • InpElevatedMax — upper boundary of elevated spread (default 30 pts)

  • Anything above is considered high (gray)

Suggested thresholds by instrument:

Instrument Normal Elevated
EURUSD 10 20
GBPUSD 15 30
XAUUSD 20 50
Crypto 50 150

3. Trading applications

  • Before entering a trade — check the panel. If spread > Elevated → wait

  • During news — gray candles warn you not to trade

  • At night / Asian session — spread widening is visible instantly

  • History analysis — spot when your broker widens spreads (typically before news)

  • Scalping — critical for high-frequency strategies

📋 Implementation Notes

  • Recalculates only on new bar — does not overload the terminal

  • Pure MQL5 — no DLL, no external dependencies

  • Works on any instrument — forex, metals, indices, stocks, crypto

  • No repaint — history is stable

  • All timeframes supported — from M1 to MN

⚠️ Important warning

SpreadMonitor is not a trading system. It is a cost-control tool. The indicator gives no buy/sell signals; it shows the real cost of entering the market at every moment.

Using the indicator does not guarantee profit. All trading decisions are made by the trader.

🏆 About the Developer

Created by Musa Khunarikov — practicing trader with 12 years of real-account experience (Forex, stocks, MOEX, metals). 51 certificates from the Finam Training Center.

  • Services: EA development, indicators, panels, code audit

📞 Support

30 days of free support after publication.
Bug fixes within 48 hours.

⚖️ License

Free to use and modify. The author is not responsible for trading results.


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