Simple pip value calculator - MetaTrader 4 script | Trading script download - MT4/MT5 resources

“How much is a 1 pip move in EURUSD (or any currency pair) worth in my currency???”

We often see this question on MQL forums and other Forex websites. Knowing how much a 1 pip or pip move in a currency will make you (or cost you) is one of the most important factors in any Forex trading.

If you don't know this, how do you calculate your risk-to-reward ratio? ? ? ! ! !

This very simple calculator will tell you exactly how much 1 pip or a move of 1 pip in any currency pair will be worth in your base (deposit) currency. You can use the calculator "as is" as a convenient tool or use the internal formulas to implement your own EA and money management strategies. The code is provided as open source and is freely available to the MQL community for you to use as you wish.

Only one input is required, the lot size you plan to trade. Just enter that and everything else is automatically calculated for you. Standard (4-digit) and ECN (5-digit) brokers are considered in the calculation.

Just place it on any chart, fill in the lot size, and the value for that chart pair will be printed in the upper left corner of the screen. If you want to develop further, then go ahead! Add some text labels and beautify it, do what you like :)

NOTE: Version 1.02 was uploaded on February 15, 2015 to correct the pip size

Attachment download

📎 pipvaluecalculatorv1_02.mq4 (4.56 KB)

Source: MQL5 #12418