Overview
Spread Monitor is an essential execution tool for MT5 that displays live spread data for any instrument with color-coded safety ratings. During news events and low-liquidity periods, spreads can spike dramatically — this indicator protects you from entering trades at disadvantageous prices.
DarkWolf MT5 AI Robot integrates concepts from this indicator into its automated trading engine. While this free tool helps manual traders analyze the market, our AI-powered robot executes trades automatically using similar logic across XAUUSD, EURUSD, GBPUSD, US30 and more — with a verified 78.4% win rate on gold.
Key Features
- Live spread display in points
- Historical average spread calculation
- Safety color coding: Green=safe, Yellow=caution, Red=dangerous
- Customizable spread threshold alerts
- Spread spike logging with timestamp
- Works on all MT5 instruments including exotics
How It Works
The indicator reads the current Ask-Bid spread directly from your broker's feed every tick. It maintains a rolling average over your configured lookback period and compares the live spread to this average. When spread exceeds your safe threshold (e.g., 2x average), the display turns red and triggers an optional alert. The spike log helps you identify which times of day have problematic spread behavior.
Best Trading Pairs & Instruments
Scalpers, news traders, and anyone trading during volatile periods. Critical for XAUUSD traders where spread spikes are common.
This indicator performs exceptionally well when combined with the DarkWolf MT5 EA, which uses similar logic to automatically trade these same instruments 24/5. Whether you prefer manual analysis or fully automated execution, the underlying market principles remain the same.
Recommended Timeframes
Any
For best results, match your timeframe to your trading style. Scalpers should use lower timeframes (M5-M15), while swing traders benefit from H1-H4 analysis. The DarkWolf MT5 EA automatically adjusts its analysis across multiple timeframes simultaneously.
Installation Guide
Install in MT5 Indicators folder. Attach to the chart of the pair you want to monitor. Set 'Safe Spread Multiplier' to 2.0 for conservative trading or 3.0 for moderate risk tolerance.
System Requirements:
- MetaTrader 5 build 4000 or later
- Windows 10/11 or Mac with Wine
- Min 4GB RAM recommended
- Stable internet connection for real-time data
Download Spread Monitor
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Download spread-monitor.zipIncludes .ex5 compiled file + .mq5 source code
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