The pip value calculator mt4 indicator is a really useful indicator if you are looking to calculate pip values based on your trading account currency because by now, you should have figured out that pip values vary between currency pairs.
Now, you can pull out a calculator and calculate pips values of different currency pairs which if I’m not mistaken:
- there are more than 20 different currency pairs
- it will take you a lot of time to do that.
Or you can do it the easy way and use this pip value calculator indicator. All you need to do is attach this pip value calculator indicator on the chart that you want to calculate the pip value and it will do it instantly. I also provide free forex trading signals based on price action, click that link and check it out.
Table Of Contents
How The Pip Value Calculator MT4 Indicator Works
This is how this indicator works:
- If your trading account is in US dollars, it will calculate pip values based in US dollars.
- Or if your trading account is in Australian Dollars, this indicator will calculate pips values based in Australian dollar.
- or if your trading account is in GBP, pips values will calculated in Pound.
How To Install The Pip Value Calculator Mt4 Indicator On Your Chart
The process is really simple and here are the basic steps:
- Once you download it
- you need to save in the “indicators folder” where your MT4 trading platform files are kept.
- And then upload it onto a chart and this is what it will look like including the information it will show:
Things You Can Do With The Pip Value Calculator MT4 Indicator
- calculate easily how much money you are risking based on where you place your stop loss on your chart.
- calculate how much money you’d be making if your profit target gets hit
Note also that the above two things can also be done directly off the mt4 chart by simply clicking and dragging the executed order “line” without the need for the pip value calculator.
Other Useful Mt4 Indicators You May Also Be Interested In
- zigzag indicator mt4
- inside bar indicator mt4
- pin bar indicator mt4
- candlestick pattern indicator mt4
- mt4 candlestick time indicator
- spread indicator mt4
Finally, here’s the download link: PipValueCalculatorV1_02.