TP and SL Calculator Indicator MT4

TP & SL Calculator Indicator for MT4

The Take Profit & Stop Loss Calculator Indicator is an essential tool for MetaTrader 4 users, designed to help traders accurately calculate and visualize potential profit and loss for each trade. This indicator features a dedicated management panel that offers several key tools for effective trade management, including:

  • Creating Take Profit (TP) and Stop Loss (SL) levels for both buy and sell positions
  • Calculating trade volume in lots
  • Displaying the Risk-to-Reward (R/R) ratio
  • Showing the countdown timer to the next candle (Time to the next bar)

 

Specifications Table

Category

Details

Type

Trading Tool – Capital Management – Risk Management

Platform

MetaTrader 4

Skill Level

Beginner

Indicator Type

Risk and Capital Management

Timeframe

Multi-Timeframe

Trading Style

Scalping – Intraday – Medium Term – Long Term

Market

All Markets

 

Indicator Overview

The indicator displays three key levels:

  • A gray Open Position line
  • A green Take Profit (TP) line
  • A red Stop Loss (SL) line

Traders can customize their TP and SL levels either by entering their preferred Risk-to-Reward ratio directly into the indicator panel or by manually dragging the lines on the chart.

 

Buy Position Example

In the USD/CAD chart on the H1 timeframe, the indicator demonstrates how TP and SL are positioned for buy trades:

  • The Take Profit level is set above the Open Position line
  • The Stop Loss level is set below the Open Position line

The indicator panel displays helpful information such as the R/R ratio, calculated lot size, and the countdown timer for the next candle.

 

Sell Position Example

On the ETH/USD chart in the 30-minute timeframe, the indicator operates similarly for sell trades:

  • The Take Profit level is placed below the Open Position line
  • The Stop Loss level is placed above the Open Position line

The panel also provides the calculated lot volume and the R/R ratio.

 

Indicator Settings

Based on the configuration panel, the indicator includes the following options:

  • Light/Dark Mode: Switch between themes
  • Time to the next bar: Countdown until the current candle closes
  • Buy / Sell: Configure buy or sell positions
  • Delete: Remove TP and SL lines
  • R/R Rate: Adjust the Risk-to-Reward ratio
  • Lot Rate: Manually set the trade volume

 

Conclusion

The TP & SL Calculator Indicator simplifies the process of setting stop loss and take profit levels by offering adjustable visual lines and a dedicated information panel. Traders can quickly configure TP and SL levels through manual chart adjustments or by entering their preferred R/R ratio, making trade management more efficient and intuitive on MT4.

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The product will copy all  Discord  signal   to MT4   ( which you are member  ) , also it can work as remote copier.  Easy to set up. Work with almost signal formats, support to translate other language to English Work with multi channel, multi MT4. Work with Image signal. Copy order instant, auto detect symbol. Work as remote copier: with signal have ticket number, it will copy exactly via ticket number. How to setup and guide: Let read all details about setup and download Discord To MetaTrader
Trade Manager MT4 DaneTrades
Levi Dane Benjamin
4.09 (11)
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Trade Manager to help you quickly enter and exit trades while automatically calculating your risk. Including features to help prevent you from Over Trading, Revenge Trading and Emotional Trading. Trades can be managed automatically and the account performance metrics can be visualised in a graph. These features make this panel ideal for all manual traders and it helps to enhance the MetaTrader 4 platform. Multi Language support. MT5 Version  |   User Guide + Demo The Trade Manager does not work
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