news spread risk dashboard (spike and gap monitor)

Related: Spread Monitor: Analyze Market Spread in Real-Time - another powerful indicator for MetaTrader 5 traders.

full description (marketing + explanation) overview

Also recommended: Clock (Spread) Indicator for MT5 - similar indicator with strong performance on MetaTrader 5.

news spread risk dashboard
is a lightweight
chart-overlay indicator
designed to help traders immediately recognize
dangerous market conditions
where spread expansion can destroy entries, exits, and risk control—especially during
high-impact news
,
rollover
,
session transitions
, and
illiquid periods
(weekend open, holidays, thin books).
instead of guessing whether the market is “safe to trade,” the indicator continuously measures the
real ask–bid difference
and visualizes spread risk as a clean, compact panel on the chart.
what you get on the chart
the dashboard shows a rolling snapshot of spread conditions:

current spread
(live)

min (window)
spread

max (window)
spread

avg (window)
spread

status
line: stable or risk with the reason
the background automatically switches color when a warning condition is detected—so the signal is visible at a glance.
why this matters (practical use cases)
spread spikes often occur exactly when traders are most vulnerable:

news releases:
spreads widen before and after the event

liquidity gaps:
session open/close, rollover, holidays

fast markets:
sudden volatility can cause spread “bursts”

scalping & tight stops:
even small spikes can invalidate trade logic
this dashboard is a
risk filter
: it helps you decide when to wait, reduce size, widen stops, or skip entries.
warning logic (two modes)
you can choose how the warning triggers:
1) relative spike detection (recommended)
the indicator warns when the live spread becomes a multiple of its own recent behavior:

warning if
current ≥ avg × risk multiplier
example: multiplier
1.5
means “warn when spread is 1.5× the recent average”
this is robust across different symbols because it adapts to normal spread conditions.
2) absolute threshold (fixed limit)
the indicator warns when the live spread reaches a fixed limit:

warning if
current ≥ threshold
supports
symbol-specific thresholds
(per instrument)

example format: eurusd:3.0,gbpusd:3.5,usdjpy:2.5,usdcad:3.2,xauusd:30.0,us30:8.0
this is ideal if you already know exactly what spread level makes a setup invalid for each market.
display units (forex, crypto, metals, indices)
to keep readings meaningful, the indicator supports multiple display modes:

smart auto

forex:
pips
non-forex:
price difference
(ask–bid)

price difference
(always)

spread percentage
(universal risk metric)

classic pips
(forced)

raw points
(forced) alerts (optional)
when a risk condition is detected, you can enable alerts with a cooldown to prevent spam:

popup alert

sound alert

push notification performance & stability

uses a
millisecond timer
for smooth updates (useful for crypto and fast feeds)

stores samples in a rolling window (default
300 seconds
)

includes a
minimum sample interval
and a safety cap to prevent “array explosion”

debug logging can be enabled for diagnostics (not recommended for live) recommended settings

start with:

display mode:
smart auto

warning mode:
relative

risk multiplier:
1.5 to 2.0

window:
300 seconds

if you trade specific symbols consistently, enable
symbol-specific thresholds
and tune values per instrument. notes / limitations

this indicator measures
spread behavior
, not slippage or execution quality directly.

spread values depend on your broker’s feed and symbol contract specification.

for very illiquid symbols, consider increasing the minimum sample interval or reducing update speed.

You may also like: Spread Monitor Panel: Live Spread and Spike Alerts - excellent alternative for indicator users on MetaTrader 5.

#property copyright "robotfx"
#property link "https://robotfx.org"
#property version   "2.20"
#property indicator_chart_window
#property indicator_plots 0
#include <arrays\arrayobj.mqh>
enum enum_display_mode
{
mode_smart_auto,
mode_price_difference,

.......

• This tool is provided for educational and testing purposes only.
• Past performance does not guarantee future results.
• Trading involves substantial risk of loss. Use on a demo account first.
• Results may vary depending on market conditions, broker, and settings.
• We recommend thorough backtesting and forward testing before using with real funds.