A trading tool that calculates stop loss and take profit levels using percentage-based inputs, helping traders visually assess and manage trade risk with precision.
Explore complementary indicator rolesHow it works
The tool uses the current candle's close price as the entry point and calculates stop loss and take profit levels based on user-defined percentage inputs. By applying these percentages to the entry price, it generates precise price levels for potential exit points.
The tool then displays horizontal lines on the chart marking these levels, creating a visual representation of the trade's potential risk and reward. A compact table in the top-right corner shows key values including entry price, current price, TP and SL prices, and the risk-to-reward ratio
Why it may be useful
This tool provides traders with a systematic approach to risk management by offering clear, quantifiable exit points for trades. By allowing users to input specific percentage-based stop loss and take profit levels, it helps traders maintain disciplined trading strategies.
The visual representation and accompanying table make it easy to quickly assess the potential risk and reward of a trade setup. This can help traders make more informed decisions, avoid emotional trading, and maintain a structured approach to managing trading positions
When to explore it
The tool is most effective for traders who prioritize structured risk management and want to quickly validate their trade setups. It works well for scalpers, day traders, and swing traders who need to rapidly assess potential trade outcomes.
Traders can use this tool when they have a specific entry signal but need to determine appropriate stop loss and take profit levels. It is particularly useful in volatile markets where precise risk management is crucial, and when traders want to ensure their trades meet specific risk-to-reward ratio criteria
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
