Spread Monitor
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Spread Monitor
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
What ideas is the code based on:
Spread expansion and negative swaps can silently reduce a trader's profit, especially during high volatility news events or rollover hours. This lightweight information panel tracks key contract specifications in real-time directly on the active chart. It eliminates the need to constantly open the Market Watch properties tab. How indications can be interpreted: The text dashboard displays the current symbol name, real-time spread in points, and swap sizes for both long and short positions. It updates dynamically on every incoming tick or every second via a built-in timer mechanism. Description of external variables (Inputs): - InpFontSize: Adjusts the panel text size for high-resolution screens. - InpCorner: Lets you anchor the dashboard to any of the 4 corners of your chart screen. Recommended usage: - Symbol: Universal (Forex, Gold, Crypto). - Timeframe: Any chart period.
