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MT5 Risk Reward Calculator - script for MetaTrader 5
Jony Islam
I am Jony Islam, Founder and MQL5 EA Developer at ALGOEA, specializing in automated trading systems for MetaTrader 5.
My work focuses on algorithmic trading, Expert Advisor development, Gold (XAUUSD), Forex, systematic trade execution, and risk management.
My work focuses on algorithmic trading, Expert Advisor development, Gold (XAUUSD), Forex, systematic trade execution, and risk management.
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The MT5 Risk Reward Calculator is a free, easy-to-use script designed to help traders with proper position sizing and risk management. It allows traders to calculate the exact lot size based on their predefined risk percentage and stop-loss distance.
This tool eliminates the need for manual calculations by instantly generating a professional dashboard on the chart. The dashboard displays the calculated lot size, exact monetary risk, stop loss, take profit, and the risk-to-reward ratio.
Key Features:
- Auto-calculates lot size based on Account Balance or Equity.
- Displays Risk Amount in account currency.
- Visual Risk/Reward Ratio calculation.
- Adapts automatically to any symbol (Forex, Gold, Indices, Crypto) by reading Tick Value, Tick Size, and Broker's lot step.
- Clean and premium UI dashboard on the chart.
Input Parameters:
- Risk Percentage: The percentage of your balance/equity you want to risk (e.g., 1.0 for 1%).
- Stop Loss: The distance to your stop loss in pips.
- Take Profit: The distance to your take profit in pips.
- Use Balance: If true, calculates based on Balance. If false, uses Equity.
- Display Settings: Customize the panel's position, background color, and text colors.
How to Use:
1. Attach the script to any chart.
2. Enter your Risk %, Stop Loss, and Take Profit values in the input window.
3. Click OK. The dashboard will appear on the chart with the exact lot size you need to trade.
Note: This is a utility script. It does not open trades automatically; it only provides the calculations to help you make better trading decisions.
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