Spread Informer Signal Indicator
One of the most important factors when trading Forex is the spread size. Since almost all brokers have switched to floating spreads, it's essential to constantly monitor this parameter.
The easiest way to do this is with a special indicator; we have already described one of these scripts on our website - the Spread Indicator
It fully meets the requirements, but the previously published indicator is intended for installation only on 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 informs you if the spread has widened beyond a specified value.
As soon as this happens, the script will automatically send you a warning that simply cannot be ignored.
This feature is especially useful when scalping , when you don't have time to worry about monitoring commission increases, or when you have an advisor that opens a lot of trades.
As for settings, there are only two: Max. Spread and Minimum Alert Interval (in seconds):
These are Max. Spread (the maximum spread size) and Minimum Alert Interval (in seconds) (the minimum time between alerts, in seconds) if you don't want to receive alerts too frequently.
The only thing I couldn't figure out was the principle by which the indicator shows the minimum and maximum spread size.
To evaluate the minimum and maximum, a time interval of only a few minutes is used, but it would be desirable to evaluate 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.
