Spread Informer signal indicator
One of the important points when trading Forex is the size of the spread. Since today almost all brokers have switched to a floating spread, it is necessary to constantly monitor this parameter.
The easiest way to do this is with the help of a special indicator; on our website we have already described one of these scripts - the Spread Indicator
It fully meets the requirements, but the previously published indicator is intended for installation only in the MT4 trading platform and does not have an alert function.
Therefore, today we are publishing a similar spread indicator called Spread Informer for metatrader 5, which not only shows the current size, but also reports if the spread has expanded beyond a specified value.
As soon as this happens, the script will automatically send you a warning that you simply cannot ignore.
This function is especially useful when trading scalping , when there is no time to be distracted by monitoring the expansion of the commission or when you have an advisor trading that opens many transactions.
As for the settings, there are only two Max. Spread and Minimum Alert Interval (in seconds):
This is directly Max. Spread - the maximum spread size and Minimum Alert Interval (in seconds) - the minimum time between sending signals in seconds, if you do not want to receive messages too often.
The only thing we couldn’t figure out was the principle on which the indicator shows the minimum and maximum spred sizes.
To estimate minimuma and maximuma, a time period of only a few minutes is used, but I would like it to be estimated at least a daily interval.
But if this is important to you, you can use the Spread monitor indicator
Otherwise, the Spread Informer script is quite functional.