The Traide Compass only provides alerts of a wedge formation on a specific currency chart. The Traide Compass does nothing more than this.
The stop loss and take profits are created with the MT4 platform and are easiest to do by clicking on the line that represents your trade and dragging up or down.
If you place a sell order then your take profit will be below your order line and you will see the number of pips as well as the profit in USD or other currency. When you drag a line from the order line above it will show as stop loss or sl and will also show you the pip and monetary value.
The reverse of the above is true if you are placing a but order.
Here is a good video that goes over this at time marker, 7:00