01 / Overview
Key Features
→ Disclaimer RequiredsX SL/TP Pro has a required disclaimer acknowledgment in [⚠️ DISCLAIMER - READ FIRST]. The indicator will not display until you check 'I Acknowledge Disclaimer'. After acknowledging, disable Show Disclaimer Text and click Save as Default to permanently hide it.
3 Take Profit Levels
TP1, TP2, and TP3 as configurable percentage gains on the option premium. Drawn as lines on the chart with stock price labels.
Stop Loss Level
Single stop loss as a configurable percentage loss. The exact stock price trigger is shown on the chart.
Delta + Gamma Estimation
Uses Delta and optional Gamma to estimate the stock price needed to reach each TP and SL level. More accurate than Delta-only for 0DTE positions.
Trailing SL Guide
Shows where to move your stop loss after each TP is hit. TP1 hit → move SL to breakeven. TP2 hit → move to TP1 level. TP3 hit → move to TP2 level.
R:R Display
Toggle Risk:Reward ratios at each TP vs the stop loss. Shown in aqua in the table.
Realized P&L
Enter your exit option price to calculate the actual realized P&L as a percentage and dollar amount.
Compact Table Mode
Switch between full-width and compact table layouts depending on your chart space.
4 Built-In Alerts
Fires on SL, TP1, TP2, and TP3 when stock price crosses the calculated level.
02 / Concept
How It Works
01
Enter Contract Details
Input your strike price, option type (Call/Put), expiration, and entry option price. Also enter the number of contracts for accurate dollar P&L.
02
Enter Delta and Gamma
Copy Delta and optional Gamma from your broker or sX Options Analyzer. Delta is always entered as a positive magnitude — the indicator applies the correct sign internally for Calls vs Puts.
03
Calculate TP and SL Option Prices
For each TP: Target option price = Entry price × (1 + TP%). For SL: Target = Entry price × (1 - SL%). For example: TP1 at 30% with $2.00 entry = $2.60 target option price.
04
Estimate Stock Price
The indicator uses Delta (and Gamma if provided) to estimate the stock price needed to produce each target option price. With Gamma: quadratic formula applied. Without Gamma: simple linear Delta estimation.
05
Draw Levels on Chart
Each calculated stock price is drawn as a horizontal line. TP lines are green; SL is red. Labels show the percentage target and stock price.
06
Track Trailing SL (Optional)
When Show Trailing SL is ON, a second table shows where to move your stop after each TP hit. TP1 hit → breakeven. TP2 hit → TP1 stock level. TP3 hit → TP2 stock level.
03 / Reference
Settings
⚠️ Disclaimer
| Setting | Default | Range | Description |
|---|---|---|---|
| Acknowledge Disclaimer | OFF | Check to activate | Must be checked before the indicator displays anything. |
| Show Disclaimer Text | ON | ON / OFF | Disable and Save as Default to permanently hide the disclaimer. |
📋 Contract Details
| Setting | Default | Range | Description |
|---|---|---|---|
| Strike Price | 100.0 | 0–3000 | Strike price of your option contract. |
| Entry Option Price | 0.00 | Any | The option price you paid at entry. |
| Option Type | Call | Call / Put | Direction of your position. |
| Expiry Month / Day / Year | 5 / 16 / 2026 | 1–12 / 1–31 / Any | Option expiration date. |
| Contract Amount | 1 | Any | Number of contracts. Scales all dollar P&L amounts. |
| Entry Stock Price | 0.0 | Any | Stock price at entry. Used for breakeven calculation in Trailing SL. |
📊 Greeks & Stock Price
| Setting | Default | Range | Description |
|---|---|---|---|
| Delta | 0.60 | -1.0 – 1.0 | Copy from your broker. Always enter as positive magnitude for both Calls and Puts. |
| Gamma | 0.00 | 0+ | Optional. Adds quadratic accuracy for short-DTE options. Leave 0 for linear Delta-only estimation. |
| Use Chart as Current Stock Price | ON | ON / OFF | When ON, uses the current chart close as the stock reference price. |
| Manual Stock Price | 105.0 | Any | Used when Use Chart Price is OFF. |
🎯 Stop Loss & Take Profit
| Setting | Default | Range | Description |
|---|---|---|---|
| Stop Loss (%) | 20 | 0+ | Stop loss as a percentage loss on the option premium. |
| TP1 / TP1 (%) | ON / 30 | ON/OFF, % | First take profit. Default 30% gain on the option. |
| TP2 / TP2 (%) | ON / 50 | ON/OFF, % | Second take profit. |
| TP3 / TP3 (%) | ON / 80 | ON/OFF, % | Third take profit. |
| Exit Option Price | 0.00 | Any | Enter your actual exit price to calculate realized P&L. |
📈 Visual Settings
| Setting | Default | Range | Description |
|---|---|---|---|
| Show Trailing SL Guide | OFF | ON / OFF | Shows the trailing stop-loss cascade table. |
| Show Risk/Reward | OFF | ON / OFF | Shows R:R ratios at each TP vs SL. |
| Show Estimates | OFF | ON / OFF | Shows realized P&L from the Exit Option Price. |
⚙️ Table Settings
| Setting | Default | Range | Description |
|---|---|---|---|
| Compact Table | ON | ON / OFF | Narrower table with abbreviated labels. Good for small chart panels. |
| Table Font Size (px) | 13 | 8–30 | Font size for table cells. |
| Table Placement | Top Right | 9 positions | Where the table anchors on the chart. |
04 / Alerts
Built-In Alerts
Stop Loss Hit
Fires when the stock price crosses the SL stock level. For Calls: crossunder. For Puts: crossover. Immediate exit signal.
TP1 Hit — Move SL to Breakeven
Fires when stock price crosses the TP1 level. Suggests moving stop loss to breakeven stock price.
TP2 Hit — Move SL to TP1 Level
Fires when stock price crosses TP2. Suggests moving stop loss to the TP1 stock level.
TP3 Hit — Move SL to TP2 Level
Fires when stock price crosses TP3. Suggests moving stop loss to the TP2 stock level.
05 / Best Practices
Pro Tips
Configure Before You Buy
Enter your strike, expiry, Delta, and stop loss percentage BEFORE placing the order. When you fill, immediately enter your option price. The lines are already on the chart, anchored to your exact entry.
Add Gamma for 0DTE Accuracy
For same-day options, Gamma is significant. Even a Delta of 0.50 can produce meaningfully inaccurate stock price estimates without Gamma. Copy both from your broker or sX Options Analyzer.
Use Trailing SL After TP1
Enable Show Trailing SL after TP1 is hit. The table tells you exactly where to move your stop to lock in breakeven, then TP1 level after TP2, and so on. Follow it precisely.
Use R:R Before Entry
Enable Show Risk/Reward while you are still setting up. If TP1 R:R is below 1.0, your target is too small or your stop is too wide. Adjust before buying.
vs sX Options Analyzer
sX SL/TP Pro uses Delta+Gamma estimation. sX Options Analyzer uses full Black-Scholes. For short-DTE, sX OA is more accurate. For quick field estimates, sX SL/TP Pro is faster to configure.
06 / Use Cases
Who Uses This
| Setting | Scalper (0DTE) | Day Trader | Swing Trader |
|---|---|---|---|
| Stop Loss | 15–20% | 20–30% | 30–50% |
| TP1 | 20% | 30% | 50% |
| TP2 | 40% | 50% | 100% |
| TP3 | 75% | 80% | 150% |
| Use Gamma | YES (critical) | Recommended | Optional |
| Show Trailing SL | ON | ON | ON |
| Show R:R | Before entry | Before entry | Before entry |
→ sXSuite IntegrationUse sX SL/TP Pro for fast field setups when you need a quick trade plan without full Black-Scholes. For maximum accuracy, upgrade to sX Options Analyzer which adds Auto-Fetch, 4 TPs, and full BS pricing. Find the setup first with sXRadar, confirm with sXMTF Trends, then map targets with sX SBox before entering your stop levels here.