Risk Panel MT4

Risk Panel MT4 is a trade panel for MetaTrader 4 that sizes every trade from the risk you choose and then manages it from entry to exit. It is built for manual traders on forex, gold, indices and prop-firm accounts, and it works with any MT4 broker.

You plan the trade on the chart, the panel shows exactly what you risk and what you can win, and one click places it. After that, the panel takes care of partial take-profits, breakeven, trailing and your own safety rules, so you can focus on the market instead of the calculator.

Plan and place trades

Choose your risk as a percent of balance, equity or free margin, or as a fixed amount of money. The panel works out the lot size from your stop distance, including the commission you set. Entry, stop loss and take-profit are lines on the chart, and the position boxes show the risk, the reward and R:R live while you move them.

• Market and pending orders, with up to five take-profit levels and their own close percentages
• Drag the lines or the boxes to move a level; dragging the entry switches a market trade to pending
• Take-profits locked to the stop distance (1R, 2R ...) or set freely
• Optional confirmation before every order
• Cancel a pending order if TP1 is hit before it fills

Protect open trades

Breakeven can move the stop to entry (plus commission) at a profit in R, in points, or after the first partial take-profit. Trailing can follow the price by fixed points, by ATR, by the previous bar, or step to the previous take-profit after each partial close.

Manage positions

The Positions tab lists your open trades with their result in money and R. Select a trade to edit its stop and targets, move it to breakeven, close part of it or close it completely. Trades opened by hand or by another EA can be adopted, so breakeven and trailing manage them too. Close everything, buys, sells, winners or losers with one click, or delete all pending orders.

Rules that work for you

• Daily stop - close everything and stop trading for the day at a loss or gain percent
• Basket - close all trades of a symbol, or of all symbols, at a profit or loss in money
• One cancels other - when one pending order fills, the opposite ones are deleted
• Time rules - delete pending orders, close trades, or close everything on Friday at a set time
• Size limits - maximum lots open at once

Journal and report

The panel can save a picture of the chart when a trade is placed and when it closes. The close picture shows the entry and exit, every level, taken targets with a tick, a hit stop with a cross, and a short summary of the result. The report shows your result in money and percent, win rate, average R, profit factor, best and worst trade, for today, this week, month or year.

Trades from your phone

The Phone tab can take over trades you open by hand, for example from the MT4 mobile app: it adds a missing stop loss and take-profit and sends a push notification to your phone. MT4 does not record whether a trade was opened on the phone or on the PC, so on MT4 every manual trade is treated the same way.

Safety first

Before every order the panel checks the spread, the margin, the risk of the trade, the total open risk, the number of trades and the daily loss. If it cannot convert the risk into your account currency, it refuses to trade instead of guessing.

Good to know

• Partial take-profits, breakeven, trailing and the rules run while MetaTrader 4 is open. For 24/5 management use a VPS. The final stop loss and take-profit are always held by the broker.
• Push notifications need MetaTrader 4 notifications turned on: Tools > Options > Notifications, with your MetaQuotes ID from the phone app.
• Pictures are saved in the MQL4\Files\Risk Panel folder of your terminal.

Also available for MetaTrader 5 as Risk Panel MT5.