SpreadGuard Cost Spread Overlay is a lightweight indicator for the cTrader platform that displays live spread values in pips and estimates trading costs based on a user-selected lot size. It overlays this information directly on the trading chart, providing real-time visibility into execution costs. The indicator includes a visual alert feature that highlights when spreads exceed a predefined threshold, assisting traders in identifying unfavorable trading conditions. It is designed as a risk-awareness and execution tool for manual traders and does not generate trade signals or execute trades automatically. SpreadGuard is suitable for scalpers, intraday traders, and proprietary trading accounts, supporting markets such as Forex and major currency pairs like EURUSD and GBPUSD. The clean on-chart display helps traders assess market conditions before entering trades by showing both spread and estimated cost dynamically.