The Pipsometer 5 Decimal MT4 helps you display the number of pips gained or lost from your current trades as well as from trades executed during the day. This is a useful indicator for traders to quickly manage and track their trading performance.
Introduction to Pipsometer 5 Decimal MT4
A little later, after closing this trade with a profit of +2.7 pips, that number will be added to the other trades of the day and displayed at the bottom, as shown in the image below:
With the Pipsometer 5 Decimal, you not only know how many pips your current trades are gaining or losing, but you can also track the total profit/loss in pips for the entire trading day.
Installation / Configuration Guide
Below is a guide to setting up the key parameters of the Pipsometer 5 Decimal indicator:
Color1/2: The colors of the indicator.
allSymbols:
-
Set to false if you only want the indicator to calculate trades related to the current currency pair on the chart.
-
Set to true if you want the indicator to display calculations for all currency pairs you have traded during the day.
Corner: Choose the display corner of the screen:
-
0: Top left
-
1: Top right
-
2: Bottom left
-
3: Bottom right
Why You Should Use Pipsometer 5 Decimal MT4
Managing multiple trades at once can drain a lot of your energy and focus. That’s why having a quick overview of how your trades are performing is extremely useful for making faster decisions on take profit or stop loss.
This indicator is also especially suitable for short-term traders or those who use a scalping style, where decisions must be made quickly before the market turns against their positions.
The Pipsometer 5 Decimal MT4 works on all timeframes and is completely free to download and install.
Note: This indicator displays profit and loss in pips, not based on the trade size (lot).
For example, if you have two open BUY orders on EURUSD:
-
Order 1: BUY 0.1 lot EURUSD → currently +7 pips
-
Order 2: BUY 0.3 lot EURUSD → currently -5 pips
The indicator will display +2 pips for the EURUSD trades combined.
Download Pipsometer 5 Decimal MT4 for Free
You can download this indicator from the link below:
P/s: Some of you asked which indicator is used to display the entry/exit points of a trade (as shown in image number 2 from the top). The answer is: it’s the Trade Plotter indicator.
