“How much is a 1 pip movement on EURUSD (or any pair) worth in my currency???”
It’s a question we see asked frequently on the MQL forums and other forex websites. Knowing how much a 1 pip or 1 point move on a currency is going to make you (or cost you) is one of the most important factors in any forex trade.
If you don’t know that, how can you calculate your risk to reward??!!??
This very simple calculator will tell you exactly what the value of a 1 pip or 1 point move in any pair will be in your base (deposit) currency. Either use the calculator “as is” for a handy tool, or use the formula inside for your own EA and money management strategies. The code is provided as open source, free to the MQL community to do with as you please.
There is only one input required, the lot size you plan to trade. Simply enter that and everything else will be calculated for you automatically. Standard (4 digit) and ECN (5 digit) brokers are taken into account in the calculations.
How to use:
Simply drop it on any chart, fill in the lot size and the values of that chart pair will be printed out in the top left of your screen. If you wish to develop it further, go right ahead! Add some text labels and pretty it up, do what you like 🙂
MT4 Indicator Download – Instructions
Simple Pip Value Calculator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Simple Pip Value Calculator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Simple Pip Value Calculator.mq4?
- Download Simple Pip Value Calculator.mq4
- Copy Simple Pip Value Calculator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Simple Pip Value Calculator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Simple Pip Value Calculator.mq4 is available on your Chart
How to remove Simple Pip Value Calculator.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: