Money Meter Indicator
Money meter indicator for MT5. Best pivot point indicator for MT5. Free pips MT5 calculator. Best forex indicator for MT5.
Description
The Money Meter Indicator for MetaTrader is simply a Forex trading tool designed to help you manage your trading. It is a horizontal line drawn across the chart and measured in pips.
The indicator algorithm essentially calculates the pip value of an open trade and then translates it into money to be earned or lost when the trade ends in a profit/loss. The calculation is made according to a fixed lot size, which can be set by the user.
The indicator is suitable for all classes of traders such as beginners, intermediates and advanced traders. In addition, it can also be used to determine the money that can be made from a scalping, day or swing position.
How to Trade With Money Meter Indicator
The screenshot above shows how the indicator will look on your MT5 chart.
The Money Meter indicator is not a technical trading tool that analyzes the forex market for BUY/SELL opportunities. It was created to display the amount of money you can gain or lose from an open trading position.
Conclusion
The Money Meter Indicator for MT5 is an ideal money management indicator that shows you the potential money to make/lose on a trade. Finally, it’s free to download.