Risk Reward Indicator for Mt4 Vs Trading View Indicator
The risk reward indicator for mt4 is used in day trading and scalping. It helps traders to judge the risk and potential profit of current trade. Once you attach the indicator that you can see in image then you will see a box will be appeared on your mt4. It will show a possible stop loss and take profit area for your current trade. You can use this indicator on any time frame with no problem.
How to Use it for Mt4?
The above image shows a box displayed on the mt4 platform. The red color side on the box represents your risk area. The green color side of the box shows the reward area. You need to understand that this indicator does not give any buy-sell signals. It’s a tool designed for traders to manage their risk and reward ratio.
How to download this Risk Reward Box Indicator for Mt4?
Just google it risk reward box indicator for mt4 and you will find the same indicator listed on the first three websites and you can download it for free. I am going to provide you the most advanced trading view indicator for risk and reward ration and you will simply love it. It most fast, real time and better than the mt4 version.
Auto Position Sizing Risk Reward Indicator Trading view
You need to go to tradingview.com. Go inside the indicator base and search auto position sizing and you will find this risk-reward indicator written by Easy Trading. This indicator is free to use on the trading view. This indicator provides us with various risk levels in one place.
It provides different risk levels like 1, 1:5, 2, and 3. These are based on your risk amount. It also show traders with stop loss on your chart. The indicator uses Atr to find the stop loss levels. This indicator is very good for finding the distance between stop loss and take profits.
This indicator will auto-adjust everything for your trading needs. Once you have entered into the trade you can dynamically check the market levels as per your risk and reward ratio. You don’t need to manually enter any risk-reward ration in this indicator.
Conclusion:
Both indicators are good in terms of working. The mt4 version seems to be the old concept. The trading view risk reward indicator is better and easier to understand. It works in real time whereas the mt4 version does not auto-adjust.
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