What is the Risk Calculator Indicator for MT4?

The Risk Calculator Indicator is a tool in the MetaTrader 4 platform that can help traders assess their risk level. It displays two different indicators, one for the long and one for the short positions. These indicators show traders how much they are willing to risk on any particular trade. The indicator works by taking into account many factors, such as market volatility, the type of currency pair being traded, and other factors to provide an overall estimate of risk.

Risk Calculator Indicator

Download the Free Risk Calculator Indicator

The Risk Calculator Indicator is helpful for new traders who may not have a firm grasp on all the variables that go into assessing risk in a given trade. It can also benefit experienced traders who want to check their existing trading strategies against new data to ensure they correctly manage their risks.

How to use the Risk Calculator Indicator for MT4?

One way to use this tool is to enter the current and desired prices for a given currency pair into the Risk Calculator Indicator and then calculate how likely the expected cost will occur. For example, if you want to know how likely the USD/EUR will go up against the current rate, you can enter $1.00 as your desired price and 0.01 as your current price (the corresponding value will be displayed).

The Risk Calculator Indicator will then return a value representing how likely you will see an increase in value at that price (e.g., 0.99). This method can help identify high-risk pairs or determine how much capital you will risk on any trade.

Risk Calculator Indicator MT4 trading settings

Risk Calculation Indicator MT4 settings: The settings for this indicator will depend on your trading platform and personal preferences but generally include indicators such as Bollinger bands, MACD, and RSI. You can adjust these to suit your trading style or strategy and find the best setting.

Risk Calculator Indicator Advantages

The advantage of using a forex risk calculator is that it allows you to quickly and easily assess different positions based on your particular conditions. This can help you identify opportunities to exploit favorable market conditions while limiting your exposure to higher-risk classes.

It is important to note that not all currencies are created equal regarding forex risk. Therefore, it is essential to understand the risks involved in trading various currencies before making any investments or decisions.

Risk Calculator Indicator Disadvantages

One of the main disadvantages of using the forex risk calculator indicator is that it can sometimes give misleading results. For example, suppose you are trading in a very volatile market. In that case, the hand might provide a very high-risk rating for that particular currency, even though there is little chance it will move significantly in either direction. This could lead you to hold onto your investments rather than take a risk and sell them.

However, this situation is not unique to the forex risk calculator indicator – any statistical model or algorithm can sometimes give inaccurate results. It’s important always to do your due diligence and consult other resources before deciding on your investments.

Risk Calculator Indicator installation on MT4

Installing the Risk Calculator Indicator on MT4 is a simple process that involves the following steps:

  1. Download the indicator: First, you need to download the Risk Calculator Indicator file in the .mq4 format from a reliable source on the internet.
  2. Open MT4: After downloading the file, open your MT4 trading platform.
  3. Open the Data Folder: Click on the “File” tab at the top left corner of the MT4 platform, then click on “Open Data Folder.”
  4. Copy the indicator file: Double-click on the “MQL4” folder in the data folder, then double-click on the “Indicators” folder. Copy and paste the downloaded indicator file into the “Indicators” folder.
  5. Restart MT4: Close and reopen the MT4 platform for the changes to take effect.
  6. Locate the indicator: Once you have restarted MT4, locate the “Navigator” window on the left side of the screen. Expand the “Indicators” section; you should see the Risk Calculator Indicator listed there.
  7. Apply the indicator: Drag and drop it onto the chart you want to apply it. Alternatively, you can double-click on the hand and select the chart you want to use.
  8. Customize the indicator settings: Once the indicator is applied to the chart, you can customize it by right-clicking it and selecting “Indicators List.” Select the Risk Calculator Indicator, then click the “Edit” button. You can adjust the indicator’s settings from here to suit your trading strategy.

Risk Calculator Indicator mt4

Risk Calculator Indicator mt4 free download


It is simple now that you have installed the Risk Calculator Indicator on your MT4 platform. Simply drag and drop the indicator onto the chart you want to use it with, or right-click on the chart and select “Indicators List.” From here, you can adjust its settings to suit your trading strategy.

Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Telegram Channel | Quora | Reddit

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