Take Profit (T/P)

Take Profit - An order level attached to a position or pending order that automatically closes the trade at a certain profit price. For a long position it is above entry, for a short it is below entry. Essentially a limit order on profit. MetaTrader treats T/P as a stop (limit) order to close at the specified price. Investopedia defines it as a limit order to close out at a target profit price.