Risk Reward Ratio Calculator Indicator for MT5 - Free
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.
Specification Table of Risk/Reward Ratio Calculator Indicator
Key specifications of the indicator are outlined in the following table:
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Indicator Categories:
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Money Management MT5 Indicators
Trading Assist MT5 Indicators
Risk Management MT5 Indicators
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Platforms:
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MetaTrader 5 Indicators
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Trading Skills:
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Elementary
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Timeframe:
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Multi-Timeframe MT5 Indicators
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Trading Style:
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Swing Trading MT5 Indicators
Scalper MT5 Indicators
Day Trading MT5 Indicators
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Trading Instruments:
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Forex MT5 Indicators
Crypto MT5 Indicators
Stock MT5 Indicators
Commodity MT5 Indicators
Indices MT5 Indicators
Share Stock MT5 Indicators
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Indicator Overview
The main features and functionalities of the Risk Reward Ratio Calculator Indicator’s management panel are as follows:
- Displays the remaining time until the next bar forms (Time to the next bar)
- Creates Stop Loss by entering pip values
- Allows Take Profit levels (TP) to be set
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.
Note: You can use TradingFinder pip calculator tool to calculate pip size and stop loss.
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 MT5 money management 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.
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