RobotFX curates the best open-source MetaTrader code to inspire your trading automation.
FoxWave Pip Value Calculator is a lightweight yet powerful MT5 indicator that displays a clean, always-on-screen panel with everything you need to trade with precise risk control — no manual calculations, no spreadsheets.
What it does
► Pip Value (1.00 lot)
Shows the real-time pip value for the current chart symbol in your account currency. Automatically handles 3-, 4-, 5-digit brokers and all asset classes (Forex, indices, commodities, crypto).
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► Suggested Lot Size
Enter your desired risk % and stop loss distance in pips. The indicator instantly calculates the correct lot size to keep your risk exactly where you want it — updated live on every tick.
► Your Volume — Actual Risk Analysis
Enter any custom lot size (e.g. 0.10) and the panel shows:
- Pip value for that exact volume
- Actual risk % of your account balance (given your SL distance)
- Actual risk in account currency
Color-coded feedback tells you at a glance whether your chosen size is safe:
🟢 Green — at or within your target risk
🟠 Orange — slightly over your target (up to 50% above)
🔴 Red — significantly over your target risk
► Open Position Monitor
If you have an open trade on the current symbol, the panel shows:
- Open volume in lots
- Current pips gained / lost
- Floating P/L in account currency (including swap)
All values update automatically every second (configurable).
Key Features
- Works on any symbol and any broker
- Fully customizable colors, panel position and refresh rate
- Zero indicator buffers — no chart clutter
- Minimal CPU footprint (timer-based, not tick-based)
- Clean dark panel design — readable on any chart background
Inputs
| Parameter | Description |
|---|---|
| PanelX / PanelY | Panel position on chart |
| RefreshSeconds | Update interval (default: 1 sec) |
| RiskPercent | Target risk % per trade |
| StopLossPips | SL distance used for lot calculation |
| MyVolume | Your custom lot size to analyze |
| Colors | Full color customization for every element |
Who is it for?
Any trader who wants instant, accurate risk sizing without switching between tools. Ideal for day traders and scalpers who need fast decisions with controlled risk.
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