How to measure and count Pips on Chart?

 

My crosshair tool only shows "Points" but not pips. My positions are calculated with pips so I need to set my Stop Loss distance based on a number of pips. Like 40 pips for example.

However when dragging with the crosshair tool it only shows me Bars, Points and %.


Is there a setting I can change or does all this depend on the broker?


Thanks

Mark

 
No you would need a custom tool to do that.
 
Alain Verleyen #:
No you would need a custom tool to do that.

Thanks you're a life saver.

So the math is basically 12000 Points is 1200 Pips, is that about right?

 
Mark #:

Thanks you're a life saver.

So the math is basically 12000 Points is 1200 Pips, is that about right?

Depends which instrument, for Forex yes.
Reason: