Show Pips indicator
Show pips MT5 indicator shows profit in pips, percentages, spread, candle timer. An essential Metatrader indicator for forex traders.
CATEGORIES: MT5, INFORMATIONAL
Updated on: 18.12.2023
This MetaTrader indicator is a fantastic tool for forex traders. It is convenient and displays multiple information.
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 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. The profit or loss shown in percentages helps the forex trader for account management and money management and for managing the risk within the acceptable risk limits.
The spread information comes in handy during important news releases while using a variable spread account. Obviously, the Show pips MT5 indicator is very flexible and is easy to install, and free to download. 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, it is important to add clarity in the display and to have a non-intrusive display of the details. So, the default values of the show pips Metatrader indicator settings are changed as shown in the above image. As a result, the show pips MT5 indicator now shows the loss or profit in pips.
Besides dollars and a percentage, spread value of the currency pair, time left for the current candle to close on the top right upper corner of the chart.
Conclusion
In conclusion, the Show Pips MT5 indicator is an important tool for Forex traders. It provides all vital statistics of a particular trade right in front of 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.
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