The Show Pips indicator for MT5 is an informative indicator designed primarily to display the pips counts of all open positions in real time. It shows the pips gained or lost from the trade entry to the exit zone – stop loss or take profit level.
The indicator suits scalpers, day/intraday, and swing traders. For example, scalpers can use the indicator to quickly assess the progress of their trades and monitor the market spreads in real-time.
Features of the Show Pips Indicator for MT5
As noted above, the indicator is a multi-timeframe tool that displays the pips of an open position. Besides showing running pips, the indicator also displays other valuable information such as the floating profit, the current spread of an instrument, and the time left for a candlestick to close.
Moreover, the indicator is flexible and allows Forex traders to enable or disable unnecessary information. For instance, traders can set the indicator to display the pips value of an open position and the floating profit.
Benefits of Using the Indicator
- Improves Decision-making: The indicator helps traders to keep a tab on their trade performance, enabling quick decision-making.
- Beginner-Friendly: The indicator is easy to use, which makes it suitable for beginner and experienced traders to monitor their running trade positions with less hassle.
Indicator Settings Description
The indicator comes with the following customizable settings:
Type of appearance: Determines how the indicator is displayed on the chart.
Graph corner for attachment: Determines the chart corner to display data.
Show profit: Enables/Disable the display of floating profit.
Show profit in percents: Enables/Disables the display of floating profit in percentage.
Show spread: Enables/Disables the display of the current market spread.
Show time to bar close: Enables/Disables the remaining time left for a candlestick to close.
Text color: Determines the color to display text.
Profit color: Defines the color to display floating profit.
Loss color: Defines the color to display floating loss.
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