Spread Analyzer – User Instructions

The Spread Analyzer Utility is a smart and useful on-chart tool for MetaTrader 5 that monitors, records, and analyzes real-time spreads for any symbol and broker. It provides live statistics on current, average, minimum, and maximum spreads, session-based averages (Asia, London, New York), and generates visual HTML reports to help you evaluate broker execution quality, trading conditions, and spread behavior during different market sessions. The tool works on demo and live accounts and can be attached to any chart.

What You Need

• MetaTrader 5 (MT5) installed
• A demo or live trading account
• Spread Analyzer Utility (.ex5)
• MT5 running and logged into your trading account

How to Use – Step by Step

1. Launch MetaTrader 5 and log into your demo or live trading account.
2. Open any chart for the symbol you want to analyze (e.g., EURUSD, GBPUSD, XAUUSD).
3. Attach the Spread Analyzer Utility to the chart.
4. Adjust the input parameters if needed:
   • Sample Interval (seconds): How often the spread is recorded.
   • Rolling Average Window (minutes): Time window used for the rolling average calculation.
   • Show Dashboard: Enable or hide the on-chart dashboard panel.
   • Report Folder: Folder where HTML reports will be saved.
5. The dashboard will appear on the chart and start collecting spread data automatically.
6. Use the on-chart buttons:
   • 📈 Generate Time Report – Creates an HTML report showing spread changes over time.
   • 🌍 Generate Session Report – Creates an HTML report comparing Asia, London, and New York session spreads.
   • 🗑 Clear Data – Clears all recorded spread history and resets statistics.
7. Open the generated HTML report files in your web browser to view charts and statistics.

Where Reports Are Saved

By default, HTML reports are saved inside the MT5 Files directory under the folder name you specify (e.g., MQL5/Files/SpreadReports). You can change the folder name in the tool inputs. Reports can be opened in any modern web browser.

What the Dashboard Shows

• Current spread in points (live)
• Rolling average spread over the selected time window
• Minimum and maximum recorded spreads
• Average spreads during Asia, London, and New York sessions
• Broker name and symbol being analyzed

Important Notes

• The utility measures real broker spreads in real time; results depend on liquidity and market conditions.
• For accurate session statistics, let the tool run continuously during the session you want to analyze.
• High-impact news and market open/close periods may cause temporary spread spikes.
• Clicking Clear Data permanently resets recorded data for the current session.
• The tool works on both demo and live accounts.

Common Use Cases

• Comparing spreads between different brokers
• Finding the best trading sessions for low spreads
• Evaluating spread stability during news and volatile periods
• Testing broker execution quality before going live
• Recording spread behavior for scalping strategies

Need a MetaTrader 4 (MT4) version? Reach out and we’ll provide a compatible MT4 Spread Analyzer.