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Risk Reward Setter

FREE

Published: 28 July 2017

Current version: 1.5

Risk Reward Setter

Utilities
Karim Abdelwahab
Version: 1.5
Updated: 9 July 2020

This is a simple risk/reward setter. You enter your TP and SL in the currency amount and it sets it for you, you set your targets in money (not in pips), it helps beginners who are still learning about risk/reward ratios to set their risk/reward based on their capital or amount of money. For example, if you want to risk $3 to make $10, you just fill it in and it sets your order targets accordingly.

You can set the TP and SL per chart or all opened charts only.
Please make sure your targets are realistic, do not open a very small position and set an unrealistic reward target.
If you are having any problems running, it please do let me know.

Parameters

period - work for any period as it only adjusts your SL and TP
Settings - you have three inputs in the settings

Apply To: Pair (only the linked chart) / Account (all open orders)
Take profit in money: amount of money you need your TP to be set to.
Stop loss in money: amount of money you need your SL to be set to.
Make sure live trading is checked to be able to adjust your opened positions and future ones.

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Version 1.5 2020.07.09

link correction

Version 1.4 2020.07.08

Version 1.3 2017.08.14

- When SL is set to 0 trail stop now works fine.

Version 1.2 2017.08.08

- Check current sl/tp levels of orders instead of updating everything and spamming broker's server.