Pip Calculator for Order Execution, Stop Loss, and Take Profit
Info
The Pip Calculator for Order Execution, Stop Loss, and Take Profit is a Indicator for MetaTrader 4 that this tool calculates the number of pips between the order execution price and the stop loss (sl) or take profit (tp) prices. It is designed as a study aid for beginners.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Pip Calculator for Order Execution, Stop Loss, and Take Profit
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
This tool calculates the number of pips between the order execution price and the Stop Loss (SL) or Take Profit (TP) prices.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: order tracing for mt4/mt5 - another powerful indicator for MetaTrader 4 traders.
This tool calculates the number of pips between the order execution price and the Stop Loss (SL) or Take Profit (TP) prices. It is designed as a study aid for beginners.Also recommended: source code for multiple orders - similar indicator with strong performance on MetaTrader 4.
Features include:
- Calculation of pips between SL price and execution price.
- Calculation of pips between TP price and execution price.
- Option to set pip calculation to standard pips or fractional pips.
- Option to show or hide order tickets.
- Setting `[show_sl]` to false will hide all SL pip and ticket text.
- Setting `[show_tp]` to false will hide all TP pip and ticket text.
- Customizable SL and TP colors.
- Adjustable text size.
- Option to position text to the right or left of the current price bar.
Note: If chart shift is disabled, SL and TP text may appear off the right edge of the chart. To move the text left, increase the `move_text_l_or_r` value.
Non-digit symbols used for pip values will default to standard pips, even if fractional pips are enabled.
An easy order script is also available.
This tool was updated in 2026.
You may also like: order balance control - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property indicator_chart_window
extern bool show_sl = true;
extern color sl_color = yellow;
extern bool show_tp = true;
extern color tp_color = dodgerblue;
extern int text_size =10;
extern int move_text_l_or_r =0;
extern bool fractional_pips = true;
extern bool show_orderticket = true;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.