Pip Calculator Indicator, Supercharge Your Trading

Description

An automatic MT5 trading value indicator is the Pip Calculator Indicator. Your account deposit currency and the anticipated trading lot size are used to calculate the price value changes per pip.

In addition to technical research, traders must modify their trading volume to control risks. Calculating the value per pip and modifying lot sizes during hectic trading hours can be challenging for time-pressed traders. You must act quickly when making decisions, particularly if you trade frequently, to prevent losing out on other alternatives. In this sense, a fast pip value computation tool could help you calculate risk more quickly.

Our review indicates that the Pip Calculator Indicator works with all MT5 periods. Additionally, it supports any kind of cryptocurrency, stock, and FX chart.

How to use the Pip Calculator  Indicator in MT5?

The Pip Calculator Indicator automatically starts calculating by figuring out your deposit currency as soon as you install it on your MT5 platform. The value per pip and point is then determined using the anticipated trading lot size. By default, the indicator calculates the pip value using a single trade lot. However, you may easily adjust it in the indicator’s settings to match the magnitude of your anticipated trading volume.

Based on the price movement per tick, a value of one point denotes the smallest changes in the currency rate. One pip is worth ten times as much as one point. One pip is worth $7.70, while one point is worth $0.770, as shown in the USD/JPY chart above.

We may evaluate the budgeted risk against each trade entry by computing the value per pip. For example, you are going to place a one lot buy order for EUR/USD, and your risk budget for each trade is $500. Now, your stop-loss budget for this specific entry is $500 ÷ $10 = 50 pips if the currency’s one pip value is $10. You will need to change the size of your trading lot at this stage if the trade calls for more than 50 pips SL in order to keep the risk below $500.

Conclusion

The Pip Calculator Indicator is a daily risk management tool for active traders who use the MT5 platform. It enables you to rapidly ascertain how much money you are prepared to risk for every given entry. Additionally, the indicator provides a simple pip value illustration so that anyone can understand the data and make informed buy/sell decisions. This calculator can be very useful for novice traders who find it difficult to determine the pip value of multiple financial instruments at once. Additionally, a continuous pip value display on the chart will serve as a continual reminder to “know your risk before you trade.”