How to measure Pips in MT4
If you want to learn more about MT4 then you have come to the right place. After numerous requests, we have decided to write a couple of articles on how to use MT4.
In this part, we will focus on how to measure Pips in MT4. For this article, we will assume that you already know what a Pip is.
However, if you are not sure what a Pip is be sure to read this article for more information.
Now, let us dive right in and see how to measure Pips in MT4. First, you need to find the “Line Studies Toolbar” as seen below)…
After you have located the Line Studies Toolbar, look for the “Crosshair” tool as seen in the example below. In the “Line Studies Toolbar”, look for the Crosshair icon (highlighted in blue below).
Whenever you want to select the Crosshair tool simply click on this button.
Simply click on the crosshair icon and move your mouse over to your chart…After you have done so you will notice that there are two Crosshair lines (horizontal and vertical) on your chart. You will also notice the Crosshair moves wherever you move your mouse.
You will see that the crosshair tool gives you a horizontal line (shows price level) and vertical line (shows time & date) on the chart as you move it around. After selecting the Crosshair, find a candle that you would like to measure on the chart.
Step 1: Select the candle or range of candles you want to measure
Make sure the horizontal line of the crosshair tool is at the top or bottom of the candle that you would like to measure.
Make sure to keep your mouse button pressed or clicked because the moment you release your mouse button the crosshair tool will disappear. If this happens, don’t stress, simply select the Crosshair tool again and start over.
Step 2: Click and drag the Crosshair tool
Now, click and drag the Crosshair tool to either the Low or the High of the candle you want to measure. In our example below, we are measuring from the top to the bottom of the candle.
However, you can do it from the bottom to the top if you prefer.
Step 3: Read and Interpret the values on the Crosshair tool
You will notice that the Crosshair tool gives you three values. The 2nd value will give you the distance calculated in Points and not in Pips.
This means you need to divide this amount by 10 in order to get the distance in Pips. Thus, in the example below, the candle we measured moved a total of 2076 POINTS or 207 Pips.
The first value of the Crosshair shows you the total number of candles measured from the starting and ending point of the Crosshair. The third value gives you the current price level value of where the Crosshair tool is at the moment.
From the information above it should give you all the guidance on how to measure Pips in MT4. It might seem challenging at first, but after a couple of attempts, it will become a very easy task.
We hope that this MT4 tutorial has been helpful and useful to you. Be sure to check out our blog for more articles like this one. Our team has also developed an awesome MT4 manual which teaches how to use MT4 in a lot of detail.
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