Volatility SL TP

Volatility SL TP

Volatility SL TP uses current market volatility to calculate Stop Loss and Take Profit levels according to current market conditions. Since the market is constantly changing, the indicator helps traders make fast and practical trade projections based on current volatility. By clicking a candle, the indicator instantly displays Entry, Stop Loss, Take Profit, and risk-based lot size directly on the chart.

The Entry price is taken from the selected candle close or from the current live candle price, depending on where the projection is created. The indicator then reads current market volatility and adjusts Stop Loss and Take Profit levels to the current market situation.

By adjusting the Take Profit Multiplier and Stop Loss Multiplier, it is possible to shape the displayed risk-to-reward structure directly on the chart. For example, if Take Profit Multiplier is set to 4 and Stop Loss Multiplier is set to 2, the projected result will reflect a 1:2 risk-to-reward ratio. In normal market conditions, a 2.0 multiplier is often a good starting point. In more volatile conditions, especially before major news, a 2.5 to 3.0 multiplier may be better because it gives Stop Loss more room.

An optional volatility average mode is also available. When enabled, the indicator calculates SL and TP using an average volatility value over a user-defined number of bars. For example, the trader can use 200 bars for a broader and smoother volatility reference, or a smaller value for a more responsive projection.

The indicator reads account balance and account currency for correct lot size calculation, including common account currencies such as USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, and SGD.

The click logic is simple and practical. Click a candle to display Entry, Stop Loss, and Take Profit levels, click the same candle again to switch direction, and click elsewhere on the chart to clear the view.

The indicator can be used on both closed candles and the current live candle. It is also useful for historical chart review and manual strategy backtesting, because you can click past candles and visually check how a projection would have looked under the market conditions at that time.

Supported markets

• Forex

• Indices

• Commodities

• Stocks

For Forex symbols, distance is displayed in pips.
For non-Forex symbols, distance is displayed in points.

Main features

• Entry from selected candle close and live candle price

• Works on historical candles and live candles

• Volatility-based Stop Loss and Take Profit projection

• Flexible multiplier-based risk-to-reward planning

• Optional volatility average mode

• Lot size calculation based on selected risk

• Reads account balance and account currency

• Risk by percent or fixed money amount

• Clear trade information displayed directly on the chart

• Buy and Sell direction switching by repeated candle click

• Suitable for manual trade planning and chart-based scenario analysis

Main inputs

• Take Profit Multiplier
  Sets the Take Profit distance based on current market volatility.

• Stop Loss Multiplier
  Sets the Stop Loss distance based on current market volatility.

• Optional volatility average mode
  Enables SL and TP calculation from averaged volatility instead of only the latest volatility value.

• Volatility average bars
  Defines how many bars are used for the average volatility calculation. A larger value creates a broader and smoother reference, while a smaller value reacts faster to recent market conditions.

• Risk mode and risk value
  Lets you calculate lot size by percentage risk or by fixed money risk.

• Trade info position and font size
  Controls where the trade information is shown on the chart and how large it appears.

• Entry, SL, and TP colors
  Lets you customize the visual appearance of the projected trade levels.

The indicator is designed for traders who want a simple visual planning tool that adapts to different market conditions and works across multiple asset classes inside one MT5 environment.

This indicator is intended for manual analysis and planning only.
It does not open, manage, or close trades.