Take Profit & Stop Loss Calculator Indicator for MT5 — Free Download by TFlab

💰Key Features

• Interactive Chart Elements: Easily draw and adjust TP and SL levels on the chart for both Buy and Sell positions.
• Trade Volume Calculation: Determine appropriate trade volumes in lots based on risk parameters.
• Risk-to-Reward Ratio Display: Automatically calculate and display the Risk-to-Reward (R/R) ratio for each trade.
• Time to Next Bar: Monitor the remaining time until the next candlestick forms, aiding in timely trade execution.
• Customizable Interface: Switch between Light and Dark themes to suit user preferences.

✨source:
https://tradingfinder.com/products/indicators/mt5/take-profit-stop-loss-calculator-free-download/

✨free indicator download:
https://cdn.tradingfinder.com/file/271402/take-profit-stop-loss-calculator-mt5-tflab.zip

✨TradingFinder Support Team (Telgram):
https://t.me/TFLABS

Specifications

💰Indicator Performance

Uptrend Scenario

In an uptrend, as illustrated on a 30-minute NZD/USD chart

• Entry Point: Marked by a gray line.
• Take Profit (TP): Indicated by a green line above the entry point.
• Stop Loss (SL): Indicated by a red line below the entry point.
• Calculator Box: Displays R/R ratio, trade volume, and time remaining until the next bar.

💰Downtrend Scenario

In a downtrend, as shown on a 1-hour BNB/USD chart

• Entry Point: Marked by a gray line.
• Take Profit (TP): Indicated by a green line below the entry point.
• Stop Loss (SL): Indicated by a red line above the entry point.
• Calculator Box: Provides the same detailed metrics as in the uptrend scenario.

💰Calculator Box Features

• Theme Toggle: Switch between Light and Dark modes for better visibility.
• Time Indicator: Shows the countdown to the next candlestick.
• Trade Configuration: Set up Buy or Sell positions with corresponding TP and SL levels.
• Delete Function: Remove TP and SL lines from the chart as needed.
• R/R Ratio Input: Manually input desired Risk-to-Reward ratios.
• Lot Size Adjustment: Define trade volume in lots for precise risk management.

Conclusion

The Take Profit & Stop Loss Calculator Indicator for MT5 by TFlab is an essential tool for traders aiming to implement effective risk management strategies. Its intuitive interface and comprehensive features make it suitable for traders of all experience levels, across various markets and trading styles.

(FAQs)

❓Is this indicator suitable for all financial markets?
Yes, it is compatible with Forex, cryptocurrencies, stocks, commodities, and indices.

❓Can this indicator set trailing stop levels?
No, the indicator does not support trailing stop functionality.

❓What data is required to use this indicator?
Users need to input the entry price and desired TP and SL levels.

❓ Is this indicator suitable for scalping strategies?
Yes, it is designed to accommodate scalping, intraday, medium-term, and long-term trading styles.