Gold Spread Traffic Light

GOLD SPREAD TRAFFIC LIGHT

Gold Spread Traffic Light is a real-time spread monitoring indicator for MetaTrader 5. It provides an immediate visual evaluation of the current Bid/Ask spread through a clear four-color scale.

The indicator is primarily configured for XAUUSD, but it can also be used on Forex pairs, silver, indices, oil and other instruments after adjusting the spread thresholds according to the broker and account type.

MAIN FEATURES

• Real-time Bid/Ask spread monitoring

• Spread displayed in both price units and broker points

• Four customizable spread levels

• Clear green, yellow, orange and red visual scale

• Current Bid and Ask prices

• Average, minimum and maximum spread statistics

• Estimated spread cost for a selected reference lot size

• Optional alerts when the spread becomes very high

• Optional alert when the spread returns to the optimal range

• Statistics reset button

• Compatible with Cent, Standard, Raw and ECN accounts

• Compatible with hedging and netting accounts

• Works on any chart timeframe

COLOR CLASSIFICATION

GREEN – LOW / OPTIMAL
The spread is within the configured optimal trading range.

YELLOW – MEDIUM / ACCEPTABLE
The spread is moderately higher but may still be acceptable depending on the strategy and profit target.

ORANGE – HIGH / EXPENSIVE
The trading cost is significant. Extra caution is recommended, especially for scalping and short profit targets.

RED – VERY HIGH / BETTER TO WAIT
The spread is above the configured maximum threshold. This may occur during low-liquidity periods, rollover, market openings, important economic news or abnormal broker conditions.

DEFAULT XAUUSD SETTINGS

• Optimal range: up to 0.30

• Medium spread: up to 0.50

• High spread: up to 0.80

• Very high spread: above 0.80

All thresholds are expressed in price units rather than broker points. For example, an XAUUSD spread of 0.30 remains the same real price difference whether the broker quotes gold with two or three decimal places.

CUSTOMIZABLE PARAMETERS

• Maximum spread for the optimal green range

• Maximum spread for the medium yellow range

• Maximum spread for the high orange range

• Reference lot size for estimated spread cost

• Panel horizontal and vertical position

• Panel refresh frequency

• Bid and Ask price visibility

• Very-high-spread alert

• Return-to-optimal-range alert

• Optional sound alert

HOW TO USE

Attach the indicator to the chart of the instrument you want to monitor. The panel automatically reads the current Bid and Ask prices and updates the spread classification in real time.

The default settings are intended for XAUUSD. When using another instrument or a different broker, observe the average spread under normal market conditions and adjust the three thresholds accordingly.

The indicator can be used on the same chart as an Expert Advisor, trade management utility or other indicator. It does not open, close or modify any trading position.

IMPORTANT INFORMATION

Gold Spread Traffic Light is a spread monitoring and visual support tool. A green status only indicates that the current spread is within the configured optimal range. It is not a Buy or Sell signal and does not evaluate trend direction, market volatility or trade risk.

The estimated spread cost depends on the tick size and tick value supplied by the broker and should therefore be considered an approximation.