Risk Reward Ratio Indicator
This is the forex visual orders tool & forex position size (lot) calculator with intuitive panel.
- If you want to place orders easier, faster and more intuitive?
- If you like to mark trade entry and exit points on charts?
- If you need to control the risk of each forex transaction?
- If you want to save your time for manual calculations of position size, risk to reward ratio, amount of loss and profit in account currency?
This tool is suitable for you!
Forex Risk Reward Ratio Indicator for MetaTrader platform makes your trading easy and professional. It performs all necessary calcualtions for you and allow to control your trades. Thanks to this you can make decisions about trades faster and more consciously. This indicator save your time. Trade like a pro with the best fx tools.
Using risk/reward ratio in trading
Using the Risk Reward Ratio for the MetaTrader platform, you will be able to estimate the risk of each transaction opened on the forex market. Thanks to this forex tool, you can check the risk to reward ratio of each planned trade and exactly check the size of your potential profit and possible loss in the account currency.
Forex Lot Size Calculator
You can also use this indicator as a forex lot size calculator. In the indicator's parameters, set the maximum percentage of capital that you can lose on a single transaction. Then, move stop loss line on the chart to set trade exit level on the loss and indicator will automatically calculate the lot size. Thanks to this indicator you will never have to manually calculate lot size saving a lot of time. Using the Risk Reward Ratio Indicator, you will be aware of risks of forex trading and placing orders will be quick and easy.
How to use Risk Reward Ratio Indicator
Step 1: Draw lines
- click the draw button (with pencil) and then click on the chart where you want to place the „Open” line.
Step 2: Move lines
- double click on lines and move them to specified levels where you planned to open order and set stop loss and take profit.
Step 3: Adjust lot size
- set lot size in panel and read what is your stop loss and take profit value in account currency
- if FixedRisk = true, then the indicator will calculate the lot size automatically depending on the selected risk (the AllowedRiskPercent parameter) and stop loss distance.
Step 4: Place order
- run RRR_SendPendingOrder or RRR_SendOrder script to place/open order (all scripts are available to download in "Comments" tab).
Step 5: Clear lines
- click button clear (with rubber) to remove lines from chart.
- Risk Reward Ratio – fixed or default Risk Reward Ratio. If you push „R:R” button on panel, than indicator will keep lines’ distance with selected ratio.
- AllowedRiskPercent – acceptable risk of single transaction according to account balance (allowed values from 0.1 to 100).
- Lot Calc. Type – lot calculation method:
- Disabled - no lot calculation
- Cash Amount - stop loss value as fixed cash amount set in "Cash Amount"
- Risk Balance - stop loss value as % (defined in "AllowedRiskPercent") of account balance
- Risk Equity - stop loss value as % (defined in "AllowedRiskPercent") of account equity
- Cash Amount - stop loss value as fixed cash amount in account currency
- AcceptableRiskColor – font color of risk % if it is smaller or equal than acceptable risk (set by AllowedRiskPercent param)
- UnacceptableRiskColor – font color of risk% if it is greater than than acceptable risk (set by AllowedRiskPercent param)
- Risk Font Size - font size of risk text
- Prefix & Suffix - sometimes indicator must read price of other symbol to properly calculate current pair or CFD profit and loss in currency. In some cases, pairs have additional prefix and/or suffix, e.g. “EURUSD.Pro”. In this case you should write “. Pro” into suffix field.
- Autodetect - turn on/off prefix & suffix autodetection
- LineStyle – select line style from list (solid, dash, dot, etc.)
- LineColor – line color
- TextColor – label text color
- HorizontalAlign – panel can be horizontally aligned to left/right border or center.
- YDistance – distance in px from top.
- Font Color – panel text color
- Font Size - panel font size
- CFDCurrency – symbol of quotation currency for CFD symbols needs to proper computations of profit and loss in currency
- adaptation of calculations to bitcoin accounts
- solve issue with symbols chars encoding for Mac computers.
- slimmed panel
- possibility to hide or show panel
- automatic lots calculation based on fixed risk % and stop loss distance
- possiblity of changing the indicator's panel location
- Calculate a percentage of account risk.