Take Profit & Stop Loss Calculator Indicator for MT5 Download - Free - [TFlab]

The Take Profit & Stop Loss Calculator Indicator is a risk and capital management tool to determine take profit and stop loss levels. Take profit (TP) and stop loss (SL) levels can be easily drawn on the chart using this indicator.

This trading tool provides enhanced capital management through a separate box, which includes:

• The ability to create, take profit, and stop loss levels for Buy and Sell positions;
• Determination of trade volume in lots;
• Displaying the Risk to Reward (R/R) ratio;
• Showing the remaining time until the next candle (Time to the next bar).

Specifications Table for the TP & SL Calculator Indicator

The main specifications of the indicator are as follows:

Overview of the Indicator

Overall, the levels for TP and SL can be created on the chart using two methods manually adjusting the lines or entering the "R/R" ratio. The levels created include the Take Profit line (green), the Stop Loss line (red), and the Open Position line (gray).

Indicator Performance in an Uptrend

Based on the analysis of the NZD/USD currency pair chart in the 30-minute timeframe, the gray line indicates the entry point, while the green and red lines represent the TP and SL levels, respectively.

The calculator box also displays details such as the time remaining to the next bar, the R/R ratio, and the trade volume.

Indicator Performance in a Downtrend

As shown in the BNB/USD chart for the 1-hour timeframe, during a downtrend, the TP (green line) is below, and the SL (red line) is above the Open Position (gray line).

Additionally, the calculator box provides information such as time remaining until the next candle (Time to the next bar), R/R ratio, and trade volume, facilitating capital management.

Indicator Settings

The information and features in the calculator box are as follows:

• Light/Dark: Adjusting the theme for the TP and SL elements;
• Time to the next bar: Time remaining until the candle closes;
• Buy: Configuring Buy positions;
• Sell: Configuring Sell positions;
• Delete: Removing TP and SL lines;
• R/R Rate: Indicator of the Risk to Reward ratio;
• Lot Rate: Manually determining the position volume.

Conclusion

The Take Profit & Stop Loss Calculator Indicator simplifies calculating TP and SL levels by displaying information in a separate format and providing visual lines.

The mentioned levels can be determined manually by moving the lines or entering the "R/R" value in the calculator box. It should be noted that this trading tool can be used in various markets, including forex, cryptocurrency, commodities, and stocks.