Introduction
Evaluating trading robots is something I do daily, and believe me, most of them are nothing to write home about. The Show Pips for MT5 robot is no exception. With a user rating of 4.59 and a mix of glowing and scornful reviews, it piqued my interest.Description of Functions
Show Pips for MT5 is designed to display the current pip gain or loss for open positions. It overlays this information directly on your chart, ostensibly making it easier for traders to monitor their performance in real time. It also allows for some customization, such as the option to change the color and font of the displayed data.Analysis of Results
Over the last year, users have had mixed results with the Show Pips for MT5 robot. Some find it to be a fine toy working fine while others, like user Darvero, have pointed out glaring flaws. For instance, the information line is positioned over the 'Bid' line, making it virtually unreadable for some. The developer's apparent reluctance to address this issue does not inspire confidence.Pros and Cons
Pros:- Simple and straightforward installation process.
- Displays pip information directly on the chart, providing real-time updates.
- Customizable display options.
Cons:
- Positioning of the information line can make it hard to read.
- Developer seems unresponsive to criticism and feedback.
- Mixed user reviews indicate inconsistent performance.
Conclusion
Show Pips for MT5 has its moments but also its pitfalls. With a rating of 4.59, it's clear that some users find it useful, but critical feedback raises questions about its design and developer support. Before you commit, consider discussing your experiences and any issues you encounter on forums.Source Code of Show Pips for MT5
We don’t have access to the original source code of Show Pips for MT5, but we can provide a similar version based on its description available on MQL5. If you encounter any issues or have questions about the code, feel free to ask. This example is from easytradingforum.com and is based on the original robot description.
Code:
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