While it is not absolutely required to use the Calculator with an MT4 platform, there is great benefit to doing so, because MT4 is the best way for the Calculator to keep up to date with current pip values on all forex pairs because MT4 offers free DDE data.
Read on to see how to do this, or watch the instructions as a video
To make your initial connection with MT4:
Open an MT4 platform.
- You don’t have to actively use this MT4 if you don’t want to. You’ll just have it running in the background while you use the Calculator.
- If you don’t already use MT4, you may open a free demo from the Metatrader4.com website. (MT5 does not offer the free DDE service so the Calculator cannot use that).
On the MT4 platform choose Tools > Options.
From the Options dialog choose the first tab SERVER. On that window click on √ Enable DDE and then OK.
Now from the Forex Smart Tools Calculator, open the Settings menu & choose DDE.
In the dialog that opens, choose the first tab “Detect”
Under the Detect tab, click on the blue link: ‘Click here to check now’.