Risk Reward Ratio Calculator Indicator for MT5 - Free - [TFlab]

The "R/R Ratio Calculator" indicator, or Risk Reward Ratio Calculator, is a tool designed to create Take Profit and Stop Loss levels on the chart and check each trade's risk reward ratio.

This indicator includes a panel for managing levels and a movable box to display the Take Profit, Entry Point, and Stop Loss levels. Two methods are available for creating these levels, moving the lines or specifying the pip amount.

Specification Table of Risk/Reward Ratio Calculator Indicator

Key specifications of the indicator are outlined in the following table:

Buy Trade Scenario

Based on the analysis of the gold to US dollar (XAU/USD) chart on a 4 hour timeframe, the Stop Loss is set at 30 pips, and the Take Profit in the management panel is defined at two levels.

Using these settings, the indicator calculates the Risk Reward Ratio (R/R) and visually displays the Take Profit (TP) and Stop Loss (SL) ranges on the chart.

Sell Trade Scenario

As shown in the image below (GBP/USD pair chart), the indicator calculates the Take Profit (TP) based on the specified Stop Loss (in pips) and displays the Risk Reward Ratio (R/R) as a box on the chart.

Indicator Settings

A detailed examination of the "R/R" indicator's management panel based on the following image:

• Light/Dark: Theme for the Take Profit and Stop Loss box;
• Time to the next bar: Time remaining until the current bar closes;
• Levels: Define multiple Take Profit levels;
• SL Pips: Set Stop Loss in pips;
• Buy: Configure Take Profit and Stop Loss for buy trades;
• Sell: Configure Take Profit and Stop Loss for sell trades;
• Delete: Remove elements;
• Horizontal: Switch the indicator panel orientation between horizontal and vertical;
• Rate TXT: Display Take Profit levels as percentages or "TP1, TP2, …".

Conclusion

The Risk/Reward Ratio Calculator Indicator (R/R Ratio Calculator) is a tool for setting Take Profit and Stop Loss levels on charts and calculating the R/R ratio.

This indicator automatically calculates the Risk Reward Ratio using the data entered by the trader (based on their trading strategy). It visually displays the "Take Profit" and "Stop Loss" levels in a box directly on the chart.