As the name suggests, the Pip Value Forex Calculator V 1.02 indicator for Metatrader 4 displays the pip value for your chosen currency pair.
It displays the value of one pip and the value of one point in the upper left part of the chart.
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Download the “PipValueCalculatorV1_02.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the Forex Market Spread and Pip Value mt4 indicator in action on the trading chart.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Market info
Does the indicator repaint? No.
Pip Value + Super Half Trend Day Trading Strategy for MT4
This day trading strategy combines the Pip Value Calculator Indicator (which displays pip value for the chosen currency pair) with the Super Half Trend Indicator (which gives blue arrows for buy signals and red arrows for sell signals) to help you trade intraday with more awareness of position sizing and signal clarity.
By using pip value information up front, you can better size your trades according to risk.
The Super Half Trend gives clear buy/sell signals without repainting.
This strategy is made for 5-minute and 15-minute charts on liquid pairs like EUR/USD, GBP/JPY, AUD/USD, USD/CAD, etc.
It’s suited for traders who want well-defined entries plus proper money management.
Buy Entry Rules
- Look at the Pip Value Calculator to confirm a reasonable pip value (so you know trade risk in your account size).
- Wait for a blue arrow from the Super Half Trend indicator on your chart, signaling a buy entry.
- Confirm the market context is favorable (e.g., price above recent swing, upward momentum, not at extremes).
- Open a buy position immediately after the blue arrow.
- Set a stop loss a few pips below the low of the signal candle or a logical support level.
- Set a take profit that is 1.5× to 2× your stop risk.
- Alternatively, you can exit if a red arrow appears.
Sell Entry Rules
- Check that the pip value is acceptable for position sizing and risk.
- Wait for a red arrow from the Super Half Trend indicator, signaling a sell.
- Confirm downside momentum or that the price is near resistance or below recent highs.
- Enter a sell trade as soon as the red arrow appears.
- Place the stop loss a few pips above the high of the signal candle or a logical resistance area.
- Set take profit at 1.5× to 2× the stop loss distance, or exit if a blue arrow appears.
Advantages
- Pip Value Calculator helps you gauge risk and position sizing more accurately.
- Super Half Trend gives clear visual signals (blue/red arrows) without repainting.
- Combines signal clarity with risk awareness, reducing guesswork.
- Simple to apply during active market hours (London, New York).
- Works across many pairs and on intraday timeframes.
Drawbacks
- Some signals may come after part of the move has already run.
- During ranging markets, arrows may whipsaw you frequently.
- Take profit targets may be missed if volatility diminishes.
- You must stick to disciplined stops and risk control, or losses can accumulate.
Example Case Study 1 – EUR/USD on M5
During the London session, EUR/USD was trending upward.
The pip value indicator showed that each pip was worth, say, $1 for the chosen lot size.
A blue arrow from Super Half Trend appeared around 1.0900.
A buy trade was placed with a 10-pip stop loss below the signal candle.
The take profit was set at 20 pips.
Over the next 25 minutes, the price climbed and hit 1.0920, capturing the target.
Knowing the pip value ahead made it easy to set the risk size aligned with your account.
Example Case Study 2 – GBP/JPY on M15
During the US–London overlap, GBP/JPY showed downward bias.
The pip value tool confirmed pip risk was acceptable for your lot size.
A red arrow from Super Half Trend popped up near 181.50.
A sell trade was entered with a 15-pip stop above the signal candle.
The take profit was set at 30 pips.
The price dropped and eventually reached the target, delivering a 2:1 reward to risk.
The signal was timely and aligned with intraday pressure.
Strategy Tips
- Use this strategy primarily during high liquidity hours (London, New York).
- Avoid trading just before or during major news events—pip value or volatility may change rapidly.
- Stick to a fixed risk per trade (e.g., 1% of account), using pip value to size accordingly.
- Consider scaling out part of the position at the first target, then letting the rest run with a trailing stop.
- If an opposite signal arrow appears mid-trade, consider closing or scaling down the position.
This strategy uses the pip value display to manage risk and the Super Half Trend indicator for clear entry timing.
The combination gives you both precision in signal and control in position sizing.
Always begin with demo testing, tailor your settings for each pair, and trade with discipline when moving to real capital.
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Download the “PipValueCalculatorV1_02.mq4” indicator for Metatrader 4
