I have been looking unsuccessfully for an indicator that would place the current dollar value per pip on the chart. I know that there are a number of online pip calculators that give a real time value, but I'd like to have the value for each pair as part of the MT4 screen. If anyone knows of such an indicator, I'd appreciate knowing where to find it.
This should be what you're after. Just drop into your code and should show you value of 1 point per 1 standard lot in your deposit currency. You can then easily convert it into pips or different lot sizes in the code
Thanks for your response. Since I'm new to MetaEditor, I don't know where to start to be able to use the snippet you provided. Essentially, I just want to display on the chart the pip value for whatever pair the chart is for.
Well you're in luck - I just released it as an indicator in CodeBase :) Hope it helps:
Simple Pip Value Calculator
But isn't the calculation of the pip value 10 times larger than it should be? For example, a standard contract (100,000 units) of EURUSD has a pip value of $10. But the indicator is displaying the pip value as $100.
As well as the above, please try to use the new code posted here and let me know if you still have problems.
That is correct. You can check the values of the EA with any of the online calculators such as this one - you should get the same result as the EA