Fresh MQL5 code release – perfect for enhancing your MT4/MT5 strategies.
Full Description (Marketing + Explanation)
Overview
News Spread Risk Dashboardchart-overlay indicatordangerous market conditionshigh-impact news,rollover,session transitions, andilliquid periods
Instead of guessing whether the market is “safe to trade,” the indicator continuously measures thereal Ask–Bid difference
What You Get on the Chart
The dashboard shows a rolling snapshot of spread conditions:
- Current Spread
- Min (Window)
- Max (Window)
- Avg (Window)
- StatusStableRISK
The background automatically switches color when a warning condition is detected—so the signal is visible at a glance.
Why This Matters (Practical Use Cases)
Spread spikes often occur exactly when traders are most vulnerable:
- News releases:
- Liquidity gaps:
- Fast markets:
- Scalping & tight stops:
This dashboard is arisk filter: it helps you decide when to wait, reduce size, widen stops, or skip entries.
Warning Logic (Two Modes)
You can choose how the warning triggers:
1) Relative Spike Detection (Recommended)
The indicator warns when the live spread becomes a multiple of its own recent behavior:
- Warning ifCurrent ≥ Avg × Risk Multiplier
- Example: Multiplier1.5
This is robust across different symbols because it adapts to normal spread conditions.
2) Absolute Threshold (Fixed Limit)
The indicator warns when the live spread reaches a fixed limit:
- Warning ifCurrent ≥ Threshold
- SupportsSymbol-Specific Thresholds
- Example format:
EURUSD:3.0,GBPUSD:3.5,USDJPY:2.5,USDCAD:3.2,XAUUSD:30.0,US30:8.0
- Example format:
This is ideal if you already know exactly what spread level makes a setup invalid for each market.
Display Units (Forex, Crypto, Metals, Indices)
To keep readings meaningful, the indicator supports multiple display modes:
-
Smart Auto
- Forex:pips
- Non-Forex:price difference
- Price Difference
- Spread Percentage
- Classic Pips
- Raw Points
Alerts (Optional)
When a risk condition is detected, you can enable alerts with a cooldown to prevent spam:
- Popup alert
- Sound alert
- Push notification
Performance & Stability
- Uses amillisecond timer
- Stores samples in a rolling window (default300 seconds)
- Includes aminimum sample interval
- Debug logging can be enabled for diagnostics (not recommended for live)
Recommended Settings
- Start with:
- Display Mode:
- Warning Mode:
- Risk Multiplier:
- Window:
- If you trade specific symbols consistently, enableSymbol-Specific Thresholds
Notes / Limitations
- This indicator measuresspread behavior, not slippage or execution quality directly.
- Spread values depend on your broker’s feed and symbol contract specification.
- For very illiquid symbols, consider increasing the minimum sample interval or reducing update speed.
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