This tool has been in high demand for the cTrader platform for a very long time, many traders have asked for a way of being informed when the spread widens, especially on Friday afternoons or during periods of low volatility in the markets. You can use this indicator with any symbol and on any timeframe.

How Does This Help?

This indicator will display a message on the screen, play an audible alarm and send an instant Telegram message directly to your mobile phone the moment the spread for the symbol where you have trades opens hits a predefined target. This will allow you to open your trading platform and either decide to close the trades or increase the stop loss until the spread gap decreases back to its normal value.

What is Spread?

Spread refers to the gap between the ask and bid prices of a symbol which everyone knows as the bid-ask spread. A spread of 2 pips means that the difference between the bid price and the asking price is 2 pips, this is where most brokers make their markup & fees.

• Read more about Spread

What is Spread Widening?

The spread can be affected by the supply and demand and this can widen (get bigger) or narrow (get smaller) when volatility is low, and there is uncertainty the risk is at a minimum so that the bid-ask spread will narrow. This spread widening can cause traders to stop triggering losses if they are too tight.

An example would be a stop loss of 10 pips with EURUSD where the spread rarely goes above 1 pip, during periods of low volatility (low trading volume) the spread or price between the Bidding and Asking price can widen so that the gap is higher then 10 pips, if this happens the stop loss will be triggered and the position will close at a loss before it has a chance to close in profit later.

Watch a Video Demo

Watch a video demonstration showing how to attach the indicator to a chart, adjust the settings and move it around.

• Watch video demo

How to Move Panel

The spread meter panel is attached to the chart you are trading and shows the current and the maximum spread since the indicator was attached, to move the panel anywhere on the chart you need to follow the steps below.

1. Click the mouse on the top left corner of the spread panel as shown in the red box.
2. Move the panel anywhere on the screen where you wish to place it.
3. Click the mouse again to set the location.