Auto SL TP by Risk Reward Ratio
Info
The Auto SL TP by Risk Reward Ratio is a Script for MetaTrader 5 that key features flexible risk:reward ratio: set any r:r ratio (1:1, 1:2, 1:3, etc. )Pip-Based Calculation: Define Stop Loss in pips, TP calculated automaticallyMulti-Symbol Support: Can modify all positions or only current symbolBroker Compatibility: Works with both 3-digit and 5-digit brokersSafety Checks: Validates Stop Levels and Freeze LevelsError Handling: Complete error checking with detailed logsSmart Skip: Avoids unnecessary modifications if SL/TP already correct Input Parameters RiskRewardRatio(default: 2.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Scripts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Auto SL TP by Risk Reward Ratio
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
Key Features Flexible Risk:Reward Ratio: Set any R:R ratio (1:1, 1:2, 1:3, etc.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Script works on MetaTrader 5. Place the file in the MQL5/Scripts folder and restart the terminal.
Description & Settings
Related: Automatic Posting with Web Request() - another powerful script for MetaTrader 5 traders.
Key FeaturesFlexible Risk:Reward Ratio
: Set any R:R ratio (1:1, 1:2, 1:3, etc.)
Also recommended: SC T - The Overall Percent Risk - MT5 - similar script with strong performance on MetaTrader 5.
Pip-Based Calculation
: Define Stop Loss in pips, TP calculated automatically
Multi-Symbol Support
: Can modify all positions or only current symbol
Broker Compatibility
: Works with both 3-digit and 5-digit brokers
Safety Checks
: Validates Stop Levels and Freeze Levels
Error Handling
: Complete error checking with detailed logs
Smart Skip
: Avoids unnecessary modifications if SL/TP already correct Input Parameters
RiskRewardRatio
(default: 2.0) - Your desired risk-reward ratio
StopLossPips
(default: 20) - Stop loss distance in pips
ModifyAllPositions
(default: true) - Modify all positions or only current symbol How to Use
Open one or more positions
Attach the script to any chart
Configure the parameters if needed
Click OK - the script will automatically set SL/TP for all positions Calculation Example
If you set:
Stop Loss: 20 pips
Risk:Reward Ratio: 2.0
The script will set:
SL: 20 pips from entry
TP: 40 pips from entry (20 × 2.0) Benefits
✓ Saves time - no manual SL/TP calculation ✓ Ensures consistent risk management ✓ Prevents human error in calculations ✓ Works on all forex pairs, metals, and indices ✓ Professional-grade error handling
Perfect for scalpers, day traders, and swing traders who want to automate their risk management workflow!
You may also like: Risk Reward Tool - excellent alternative for script users on MetaTrader 5.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.
