Monitoring Live Spread and Break-Even Costs for Scalping
Summary
This document describes a read-only MetaTrader indicator for tracking trading spreads in a separate chart pane. It plots live spread as a histogram, marks a user-set threshold, and displays current, average, maximum, and minimum spread across a configurable lookback. It also estimates the round-trip spread cost by doubling the current spread, making the price movement needed to break even explicit.
The indicator converts broker points to pips based on symbol digits, can retain recorded bars by symbol and timeframe, and alerts when the live spread exceeds the threshold, with an optional cooldown and mobile push notification. Its history begins only after attachment because the platform does not provide prior per-bar spread data. The document explains display and alert settings but provides no performance study; spread alone also does not represent every trading cost or establish whether a scalping entry is profitable.
Key ideas
- A separate histogram makes live spread changes visible without covering the price chart.
- The statistics panel summarizes current spread and recent lookback extremes and average.
- Doubling the spread estimates the round-trip spread hurdle a trade must overcome.
- Threshold alerts can include a cooldown and optional mobile notifications.
- Recorded history starts when the indicator is attached and can be saved by symbol and timeframe.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.