RRR with Last Order MT4
Risk-Reward Ratio with Last Order Indicator for Meta Trader 4
The Risk-Reward Ratio with Last Order (RRO) Indicator is a valuable tool designed for traders who need a precise calculation of their risk-to-reward ratio within the Meta Trader 4 (MT4) environment. This indicator evaluates the distance between the stop loss and the entry price and compares it to the take profit level. It then automatically calculates and displays the risk-to-reward ratio in the upper left corner of the trading chart. By utilizing this indicator, traders can enhance their trade management and optimize risk-reward decisions effectively.
«Indicator Installation & User Guide»
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Indicator Overview
Category | Capital Management - Trading Tool - Risk Management |
Platform | Meta Trader 4 |
Skill Level | Beginner |
Indicator Type | Entry - Exit |
Timeframe | Multi-timeframe |
Trading Style | Suitable for all trading styles |
Markets | Forex - Commodities - Indices |
Buy Trade Example
On the 1-minute Ethereum chart, when a trader executes a pending order with predefined stop loss and take profit levels, the RRO Indicator provides a clear view of the risk-reward ratio. This real-time display in the top left corner of the chart assists traders in evaluating trade profitability and managing risk efficiently.
Sell Trade Example
For instance, on a 30-minute Solana chart, if a trader places a pending order at 132.67, a stop loss at 134.57, and a take profit at 120.09, the Risk-Reward Ratio with Last Order (RRO) Indicator calculates an R/R ratio of 1:6.62. By assessing this ratio, traders can refine their capital management strategies, enhance trade accuracy, and maximize profitability.
Indicator Configuration (RRO)
Display Settings:
- Theme: Choose the indicator theme
- Order Settings: Adjust trade order preferences
- Magic Number: Enable specific indicator settings
- Magic Number Value: Filter trades based on a specific magic number
- Comment Setting: Enable or disable comment-based filtering
- Comment Value: Restrict calculations to orders with a specific comment
Box Settings:
- Position: Define the indicator box location
- X/Y Coordinates: Adjust the box placement in pixels
- Box Dimensions: Modify width and height settings
- Font Customization: Select font type and size
- Color Preferences: Set text, background, and border colors
- Background Box: Enable or disable a background box
Summary
The Risk-Reward Ratio with Last Order (RRO) Indicator is an essential tool for traders seeking precise risk-to-reward ratio calculations directly on their charts. This indicator offers real-time monitoring of risk parameters, enabling traders to make well-informed decisions regarding stop loss and take profit placement. By integrating the RRO Indicator into their trading routine, users can fine-tune their strategies and achieve more consistent, risk-managed trading outcomes.