The SpreadWarner Spread Indicator is a useful and popular free Forex indicator for MT4. The indicator works by showing the current spread of a currency pair in real-time, and also by providing a visual representation of the spread over the past 24 hours. This allows traders to quickly identify any potential changes in the spread and take advantage of them. With this indicator, traders can easily stay up-to-date on the current spread of their currency pairs and make informed decisions.