Spread Monitor and Filter
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. 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 and Filter
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
//+------------------------------------------------------------------+ //| SpreadMonitorDemo.mq5 | //+------------------------------------------------------------------+ #property description "Demo indicator for SpreadMonitor Library" #property description "Displays real-time spread statistics and alerts" #property indicator_chart_window #property indicator_buffers 1 #property indicator_plots 0 //+------------------------------------------------------------------+ //| Includes | //+------------------------------------------------------------------+ #include "SpreadMonitor.mqh" //+------------------------------------------------------------------+ //| Input parameters | //+------------------------------------------------------------------+ input group "=== Display Settings ===" input int InpPanelX=10; // Panel X Position input int InpPanelY=30; // Panel Y Position input color InpBackgroundColor=C'32,32,32'; // Background Color input color InpTextColor=clrWhite; // Text Color input group "=== Spread Thresholds (Pips) ===" input double InpLowThreshold=1.0; // Low Spread Threshold input double InpNormalThreshold=2.0; // Normal Spread Threshold input double InpHighThreshold=5.0; // High Spread Threshold input group "=== Filter Settings ===" input double InpMaxSpread=3.0; // Maximum Acceptable Spread input int InpHistorySize=500; // History Size (samples) input group "=== Alert Settings ===" input bool InpAlertOnHigh=true; // Alert on High Spread input bool InpAlertOnExtreme=true; // Alert on Extreme Spread //+------------------------------------------------------------------+ //| Defines | //+------------------------------------------------------------------+ #define PREFIX "SPM_" #define PANEL_WIDTH 200 #define PANEL_HEIGHT 230 #define ROW_SPACING 18 //+------------------------------------------------------------------+ //| Global variables | //+------------------------------------------------------------------+ CSpreadMonitor g_spread_monitor; double g_spread_buffer[]; ENUM_SPREAD_CONDITION g_last_condition=SPREAD_LOW; datetime g_last_alert_time=0; //+------------------------------------------------------------------+ //| Custom indicator initialization function | //+------------------------------------------------------------------+ int OnInit() //--- Initialize spread monitor if(!g_spread_monitor.Init(_Symbol,InpHistorySize, InpLowThreshold,InpNormalThreshold,InpHighThreshold)) Print("Error: Failed to initialize SpreadMonitor"); return(INIT_FAILED); //--- Set indicator buffer (not plotted, just for data storage) SetIndexBuffer(0,g_spread_buffer,INDICATOR_CALCULATIONS); //--- Create panel CreatePanel(); //--- Initial update g_spread_monitor.Update(); UpdatePanel(); //--- Set timer for frequent updates EventSetMillisecondTimer(250); return(INIT_SUCCEEDED); //+------------------------------------------------------------------+ //| Custom indicator deinitialization function | //+------------------------------------------------------------------+ void OnDeinit(const int reason) EventKillTimer(); ObjectsDeleteAll(0,PREFIX); //+------------------------------------------------------------------+ //| Timer function - updates spread display | //+------------------------------------------------------------------+ void OnTimer() //--- Record spread sample g_spread_monitor.Update(); //--- Update display UpdatePanel(); //--- Check for alerts CheckAlerts(); //+------------------------------------------------------------------+ //| Custom indicator iteration function | //+------------------------------------------------------------------+ int OnCalculate(const int rates_total, const int prev_calculated, const datetime &time[], const double &open[], const double &high[], const double &low[], const double &close[], const long &tick_volume[], const long &volume[], const int &spread[]) //--- Store current spread if(rates_total>0) g_spread_buffer[rates_total-1]=g_spread_monitor.GetCurrentSpread(); return(rates_total); //+------------------------------------------------------------------+ //| Check and trigger alerts | //+------------------------------------------------------------------+ void CheckAlerts() ENUM_SPREAD_CONDITION current_condition=g_spread_monitor.GetSpreadCondition(); //--- Only alert on condition change to avoid spam if(current_condition==g_last_condition) return; //--- Check if enough time passed since last alert (30 seconds) if(TimeCurrent()-g_last_alert_time<30) return; //--- Alert on high spread if(InpAlertOnHigh && current_condition==SPREAD_HIGH && g_last_condition<SPREAD_HIGH) Alert(_Symbol," - HIGH SPREAD: ",DoubleToString(g_spread_monitor.GetCurrentSpread(),1)," pips"); g_last_alert_time=TimeCurrent(); //--- Alert on extreme spread if(InpAlertOnExtreme && current_condition==SPREAD_EXTREME && g_last_condition<SPREAD_EXTREME) Alert(_Symbol," - EXTREME SPREAD: ",DoubleToString(g_spread_monitor.GetCurrentSpread(),1)," pips!"); g_last_alert_time=TimeCurrent(); g_last_condition=current_condition; //+------------------------------------------------------------------+ //| Create information panel | //+------------------------------------------------------------------+ void CreatePanel() int x=InpPanelX; int y=InpPanelY; //--- Background CreateRectangleLabel(PREFIX+"Background",x,y,PANEL_WIDTH,PANEL_HEIGHT, InpBackgroundColor,C'60,60,60'); //--- Title CreateTextLabel(PREFIX+"Title",x+10,y+8,"SPREAD MONITOR", InpTextColor,11,"Arial Bold"); //--- Symbol CreateTextLabel(PREFIX+"Symbol",x+PANEL_WIDTH-60,y+10,_Symbol, clrDodgerBlue,9,"Arial"); //--- Separator CreateRectangleLabel(PREFIX+"Sep1",x+10,y+30,PANEL_WIDTH-20,1, clrDimGray,clrDimGray); int row_y=y+40; //--- Current spread (large display) CreateTextLabel(PREFIX+"LblCurrent",x+15,row_y,"Current:",clrGray,9,"Arial"); CreateTextLabel(PREFIX+"ValCurrent",x+80,row_y,"0.0",clrLime,14,"Arial Bold"); CreateTextLabel(PREFIX+"UnitCurrent",x+130,row_y,"pips",clrGray,9,"Arial"); row_y+=24; //--- Condition CreateTextLabel(PREFIX+"LblCondition",x+15,row_y,"Status:",clrGray,9,"Arial"); CreateTextLabel(PREFIX+"ValCondition",x+80,row_y,"LOW",clrLime,10,"Arial Bold"); row_y+=ROW_SPACING+5; //--- Separator CreateRectangleLabel(PREFIX+"Sep2",x+10,row_y,PANEL_WIDTH-20,1, clrDimGray,clrDimGray); row_y+=10; //--- Statistics section CreateTextLabel(PREFIX+"LblStats",x+15,row_y,"Statistics",clrWhite,9,"Arial Bold"); row_y+=ROW_SPACING; CreateTextLabel(PREFIX+"LblAvg",x+15,row_y,"Average:",clrGray,9,"Arial"); CreateTextLabel(PREFIX+"ValAvg",x+100,row_y,"0.0 pips",InpTextColor,9,"Arial"); row_y+=ROW_SPACING; CreateTextLabel(PREFIX+"LblMin",x+15,row_y,"Minimum:",clrGray,9,"Arial"); CreateTextLabel(PREFIX+"ValMin",x+100,row_y,"0.0 pips",clrLime,9,"Arial"); row_y+=ROW_SPACING; CreateTextLabel(PREFIX+"LblMax",x+15,row_y,"Maximum:",clrGray,9,"Arial"); CreateTextLabel(PREFIX+"ValMax",x+100,row_y,"0.0 pips",clrOrange,9,"Arial"); row_y+=ROW_SPACING; //--- Separator CreateRectangleLabel(PREFIX+"Sep3",x+10,row_y+5,PANEL_WIDTH-20,1, clrDimGray,clrDimGray); row_y+=15; //--- Filter status CreateTextLabel(PREFIX+"LblFilter",x+15,row_y,"Trade Filter:",clrGray,9,"Arial"); CreateTextLabel(PREFIX+"ValFilter",x+100,row_y,"ALLOW",clrLime,9,"Arial Bold"); row_y+=ROW_SPACING; //--- Samples CreateTextLabel(PREFIX+"LblSamples",x+15,row_y,"Samples:",clrGray,9,"Arial"); CreateTextLabel(PREFIX+"ValSamples",x+100,row_y,"0",clrGray,9,"Arial"); ChartRedraw(); //+------------------------------------------------------------------+ //| Update panel values | //+------------------------------------------------------------------+ void UpdatePanel() //--- Get statistics SSpreadStats stats=g_spread_monitor.GetStatistics(); //--- Update current spread ObjectSetString(0,PREFIX+"ValCurrent",OBJPROP_TEXT, DoubleToString(stats.current,1)); ObjectSetInteger(0,PREFIX+"ValCurrent",OBJPROP_COLOR, g_spread_monitor.GetConditionColor(stats.condition)); //--- Update condition ObjectSetString(0,PREFIX+"ValCondition",OBJPROP_TEXT, g_spread_monitor.GetConditionName(stats.condition)); ObjectSetInteger(0,PREFIX+"ValCondition",OBJPROP_COLOR, g_spread_monitor.GetConditionColor(stats.condition)); //--- Update statistics ObjectSetString(0,PREFIX+"ValAvg",OBJPROP_TEXT, DoubleToString(stats.average,1)+" pips"); ObjectSetString(0,PREFIX+"ValMin",OBJPROP_TEXT, DoubleToString(stats.minimum,1)+" pips"); ObjectSetString(0,PREFIX+"ValMax",OBJPROP_TEXT, DoubleToString(stats.maximum,1)+" pips"); //--- Update filter status bool acceptable=g_spread_monitor.IsSpreadAcceptable(InpMaxSpread); ObjectSetString(0,PREFIX+"ValFilter",OBJPROP_TEXT, acceptable ? "ALLOW" : "BLOCK"); ObjectSetInteger(0,PREFIX+"ValFilter",OBJPROP_COLOR, acceptable ? clrLime : clrRed); //--- Update samples count ObjectSetString(0,PREFIX+"ValSamples",OBJPROP_TEXT, IntegerToString(stats.sample_count)); ChartRedraw(); //+------------------------------------------------------------------+ //| Create text label | //+------------------------------------------------------------------+ void CreateTextLabel(const string name, const int x, const int y, const string text, const color clr, const int font_size, const string font_name) if(ObjectFind(0,name)>=0) ObjectDelete(0,name); if(!ObjectCreate(0,name,OBJ_LABEL,0,0,0)) return; ObjectSetInteger(0,name,OBJPROP_XDISTANCE,x); ObjectSetInteger(0,name,OBJPROP_YDISTANCE,y); ObjectSetInteger(0,name,OBJPROP_CORNER,CORNER_LEFT_UPPER); ObjectSetString(0,name,OBJPROP_TEXT,text); ObjectSetInteger(0,name,OBJPROP_COLOR,clr); ObjectSetInteger(0,name,OBJPROP_FONTSIZE,font_size); ObjectSetString(0,name,OBJPROP_FONT,font_name); ObjectSetInteger(0,name,OBJPROP_SELECTABLE,false); ObjectSetInteger(0,name,OBJPROP_HIDDEN,true); //+------------------------------------------------------------------+ //| Create rectangle label | //+------------------------------------------------------------------+ void CreateRectangleLabel(const string name, const int x, const int y, const int width, const int height, const color bg_color, const color border_color) if(ObjectFind(0,name)>=0) ObjectDelete(0,name); if(!ObjectCreate(0,name,OBJ_RECTANGLE_LABEL,0,0,0)) return; ObjectSetInteger(0,name,OBJPROP_XDISTANCE,x); ObjectSetInteger(0,name,OBJPROP_YDISTANCE,y); ObjectSetInteger(0,name,OBJPROP_XSIZE,width); ObjectSetInteger(0,name,OBJPROP_YSIZE,height); ObjectSetInteger(0,name,OBJPROP_CORNER,CORNER_LEFT_UPPER); ObjectSetInteger(0,name,OBJPROP_BGCOLOR,bg_color); ObjectSetInteger(0,name,OBJPROP_BORDER_COLOR,border_color); ObjectSetInteger(0,name,OBJPROP_BORDER_TYPE,BORDER_FLAT); ObjectSetInteger(0,name,OBJPROP_SELECTABLE,false); ObjectSetInteger(0,name,OBJPROP_HIDDEN,true); //+------------------------------------------------------------------+
