Pip Counter Indicator for MT4/MT5

The Pip counter is an informative indicator for MT4 that displays the trading outcome in pips. In other words, the pip counter keeps forex traders aware of their current profitability in pips. Moreover, the pip counter indicator for MT5 shows the real-time profit and loss of the current currency pair in pips and converts it to USD as well. In fact, it can accurately calculate the value of pips in US Dollars. Consequently, this MetaTrader indicator is an excellent analytical tool for FX traders. In this guide, I will explain all the details related to the Pip counter indicator for Metatrader 4 & 5.

Pip Counter Indicator FAQ

What is pip counter Indicator ?

The Pip counter is a real-time profit calculator that measures and displays trading outcomes in pips. However, it offers several advantages over standard profit and loss calculators. It provides a real-time visualization of profitability, indicating whether trades are in profit or loss. Additionally, trading results are displayed in the base currency of the trading account. As a result, Forex and crypto traders save time by using the indicator, as they no longer need to constantly refer to the MetaTrader terminal to monitor outcomes. Furthermore, when holding multiple positions on the same pair, the indicator accumulates and presents an aggregate profit as a single deal.

How to use it?

You can show your profit and loss in pips by using the free download pip counter indicator in MetaTrader 5.
  • Profit and Loss in pips
Many Forex traders want to know the exact amount of pips their trade is generating as profit. Displaying pips in real-time can help them determine profit targets that align with their risk tolerance. Consequently, the pip counter indicator shows how far away they are from reaching their projected target. Hence, the pip counter indicator can play a role in a trader’s risk management process.
  • Profit as a percentage
This pips counter indicator is highly beneficial for forex traders who want to view their floating profit as a percentage of their trading account. Chartists typically risk a specific percentage of their account balance for a single position, known as trade risk. Monitoring this percentage is crucial for tracking the risk-reward ratio. For instance, a chartist who plans to risk 1% to make 5% can gain insights into their risk-reward situation by analyzing the profit percentage.
  • Limitations of the indicator
The pip counter indicator has two limitations. Firstly, it does not display profit and loss in pips for each position individually when multiple positions exist for the same currency pair. This is because, as discussed earlier, it aggregates the outcomes for the forex pair. Secondly, it does not aggregate the profits of positions across different forex currency pairs. Since the pip counter focuses on the outcomes of a single currency pair, the trader needs to launch the indicator on each trading chart separately.

Download Pip counter indicator for MT4

The pip counter is a forex indicator for MetaTrader 4 platforms that counts and displays earnings in pips. It provides forex traders with a clear summary of their trading position. To explain, this indicator exhibits the profit and loss in pips, then in dollars, and afterward in percentage terms. Consequently, that helps chartists to survey the profitability situation of the initiated position.
Also, an important benefit of the pip counter MT4 indicator is that the percentage P&L allows forex traders to manage their trade and account risks within their acceptable risk boundaries.

Thus, the pip counter indicator displays informative data on MT4 charts that could guide traders in relation to their risk exposure and profit targets. You can download the Pip counter indicator for MT4 via the Finansya APP.

A chart with a pip counter indicator showing the fluctuation of currency pairs in forex trading on MT4

Download Pip counter indicator for MT5

The MT5 pip counter is a forex indicator for MetaTrader 5 platforms that counts and displays returns in pips.

It shows the number of pips that the trade is generating as profits or losses, as seen in this screenshot:

Screenshot of the MetaTrader 5 chart, highlighting the steps to apply a pip counter indicator on MT5.

Conclusion

In conclusion, the pip counter displays profits in pips directly on the Metatrader chart. This profit counter provides forex traders with real-time insights into their profitability. Specifically, it shows profits and losses in pips and as a percentage. This analytical tool, therefore, assists forex traders in various ways and facilitates real-time monitoring of their trading outcomes.

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