This MetaTrader indicator is a fantastic tool for forex traders. It is convenient and displays multiple pieces of information. For example, about the open positions such as loss of profit in pips, percentages, and US dollar value. Also, the spread of the current symbol and the time left for the current bar close.
Show Pips Metatrader indicator trade statistics display
The above EURUSD H1 chart has a sell position. The details on the top right corner of the Metatrader window provide the forex trader with a clear view of all the statistics about this position.
The indicator shows loss and profit in pips and dollar value to help the trader monitor the position. In addition, the profit or loss shown in percentages helps the forex trader manage accounts and money and the risk within acceptable limits.
The spread of information is handy using a variable spread account during important news releases. In addition, the Show Pips MT4 indicator is flexible, easy to install, and free to download. Therefore, it is beneficial for both new and experienced traders.
However, the only limitation of this Metatrader indicator is that it does not show loss or profit in pips for every position separately if there is more than one open position in a particular currency pair.
The best indicator settings, in our opinion
However, adding clarity to the display and having a non-intrusive display of the details is important. So, the default values of the Show pip Metatrader indicator settings are changed, as shown in the above image. As a result, the Show pips MT4 indicator now shows the loss or profit in pips. In addition, besides dollars and a percentage, the spread value of the currency pair and time left for the current candle to close on the top right upper corner of the chart.
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In conclusion, the Show Pips MT4 indicator is an important tool for Forex traders. It provides all vital statistics of a particular trade right before the trader, particularly its loss or profit in pips. Besides, the Metatrader indicator is free to download and is a tool that supports the forex trader in every possible way.