Virtual Targets Indicator
It is a technical tool that will help you determine the TP/SL of a proposed trade at a glance.
Description
The Virtual Targets indicator for MetaTrader is a special technical tool that automatically calculates the potential value of prices in pips. It comes with lime and red colored lines that represent the pip value for virtual BUY and SELL positions respectively.
The indicator will help you quickly determine the potential take profit or stop loss value on a trade before placing an order. This eliminates the hassle of manually calculating the estimated value of trading forecasts in pips.
The point of the indicator is to make it easier for you to determine the likelihood that your proposed trade will hit your desired take profit/stop loss. This will help you easily reevaluate your trade setup before making a trade decision.
In addition, the Virtual Targets indicator is useful for beginners, intermediate and advanced forex traders. Recommended for scalpers and day/intraday traders. What’s more, it’s graphically friendly and easy to use.
How to Use The Virtual Targets indicator
The image above shows how the Virtual Targets indicator will look on an MT5 chart once installed.
The indicator is quite easy to use. Just go to the indicator settings and then enter the estimated take profit/stop loss value you expect from the trade setup.
Conclusion
The Virtual Targets Indicator for MT5 is a technical tool that will help you determine the take profit/stop loss of a proposed trade at a glance. Finally, it’s free to download.
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