The above EURUSD H1 chart has a sell position. The details on the top right corner of the Metatrader window provide the forex trader with a clear view of all the statistics about this position.
The indicator shows loss and profit in pips and dollar value to help the trader monitor the position. The profit or loss shown in percentages helps the forex trader for account management and money management and for managing the risk within the acceptable risk limits.
The spread information comes in handy during important news releases while using a variable spread account. Obviously, the Show pips MT4 indicator is very flexible and is easy to install, and free to download. It is beneficial for both new and experienced traders.
However, the only limitation of this Metatrader indicator is that it does not show loss or profit in pips for every position separately. If there is more than one open position in a particular currency pair.