This indicator allows us to know in real time the spread’s broker for the current financial instrument and if the broker offers a reasonable fee for the transaction. It is a very useful tool for aggressive scalpers, whose profits are tighly related to broker fees.

The tool has 2 configuration parameters,

Figure 1

We can set the spread level indicating a value from which we have only visual warning by limit exceeded, on the other hand we can indicate if we also want to receive a visual and audible alarm, integrated with Metatrader.

Once the application is set, the current spread is monitoring in real time, a red icon will appear whenever the set level has been exceeded, otherwise a green one appears.

Spread Level below the programmed one, green icon

Figure 2

Spread Level over the programmed one, red icon

Figure 3

Visual and audible alarm once the current spread level is over the programmed one,

Figure 4

When the alarm is fired, a window will appear displaying information about the time it took place, the current spread level at that moment and the programmed spread level.

You can see the indicator working live in the following video.

VideoTutorial