Take Profit & Stop Loss Calculator Indicator for MT4 Download [TFlab]

The MetaTrader 4 TP & SL Calculator is a specialized indicator designed to simplify risk management and enhance trade planning. By displaying take profit (TP) and stop loss (SL) levels directly on the chart, this tool allows traders to quickly set, adjust, and monitor their positions with full clarity.

Features

Define take profit and stop loss for both long and short positions

Adjust lot size to match risk preferences

Monitor risk-to-reward ratio (R/R) in real time

Track candle countdown timer for better entry timing

📊 Indicator Specifications

Category: Risk Management – MT4 Indicator

Platform: MetaTrader 4

Skill Level: All Levels

Timeframes: Multi-timeframe support

Trading Styles: Scalping, Day Trading, Swing Trading

Markets: Forex, Crypto, Commodities, Indices, Stocks

Visual Setup

The indicator places three levels on the chart:

Entry Line (Gray) – opening price of the trade

TP Line (Green) – target level for profits

SL Line (Red) – protective stop loss

Traders can modify these levels by dragging them on the chart or by entering values in the calculator panel.

Example – Buy Setup

On USD/CAD H1, TP is above entry while SL is below. The calculator shows lot size, R/R ratio, and candle timer, giving a full picture of the trade plan.

Example – Sell Setup

On ETH/USD M30, TP is placed below entry and SL above. The panel provides immediate insights into trade metrics for short positions.

Control Panel Options

The tool comes with an intuitive panel that lets traders:

Switch between dark and light themes

Show or hide candle countdown

Use quick buy/sell setup buttons

Remove TP & SL levels instantly

Input custom lot size and R/R ratio

Conclusion

The TP & SL Calculator is a practical, user-friendly indicator for MT4 traders who want to trade with discipline. By combining risk-to-reward analysis, visual price levels, and time-based monitoring, it helps traders stay consistent across different markets and strategies.