FREE Show Pips MT4 indicator

[Mpot]

Show Pips MT4 Indicator​

The Show Pips MT4 Indicator is a practical and user-friendly tool designed to provide detailed trade statistics directly on the MetaTrader chart. Its versatility makes it a valuable resource for both new and experienced forex traders.

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Key Features​

This indicator displays multiple pieces of essential information, including:

1. Profit/Loss Monitoring
   
   • Tracks open positions, showing profit or loss in:
     • Pips
     • Percentage
     • Dollar value
2. Spread Information
   
   • Displays the spread of the current currency pair, aiding in decision-making during periods of high market volatility (e.g., news releases).
3. Candle Timing
   
   • Indicates the time remaining until the current bar or candle closes, providing valuable timing insights.

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Indicator in Action​

In the EUR/USD H1 chart example:

• A sell position is active, and the indicator conveniently displays the statistics in the top-right corner of the chart.
• It helps traders keep track of:
  • Whether their position is in profit or loss.
  • The monetary value of the position's outcome.
  • The percentage impact of the trade on the account balance.

These details are crucial for effective account management and risk management, ensuring traders operate within acceptable risk limits.

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Benefits of the Show Pips MT4 Indicator​

1. Ease of Use
   
   • Simple installation process and an intuitive display.
   • Beneficial for traders at all levels, including beginners.
2. Flexible Settings
   
   • Adjustable to prioritize clarity and non-intrusive presentation.
   • Default settings can be customized to display key information (profit/loss in pips, dollars, percentages, and spread) clearly on the chart.
3. Free to Download
   
   • Available at no cost, making it an accessible tool for all forex traders.

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Limitations​

The only notable drawback of the indicator is its inability to display the profit/loss in pips for each position separately when multiple trades are open on the same currency pair. Instead, it aggregates the information for all positions.

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Conclusion​

The Show Pips MT4 Indicator is a robust tool for forex traders who want a comprehensive view of their trading statistics in real time. By offering detailed insights into profit, loss, spread, and timing, it supports effective decision-making and risk management.

• Best For:
  Traders looking for a clear, concise, and accessible way to monitor open positions.
• Additional Benefits:
  Free to download and easy to install, making it a must-have for traders seeking to streamline their analysis and trading efficiency.

This indicator is an indispensable addition to any trader’s toolkit, helping to enhance trade monitoring and strategy execution.