This tool will be a nice addition to your risk management indicators, it is a cut-down version of the paid release of our flag-ship Risk & Reward Charting Tool but still packs a punch on helping traders with their setups. The core feature is the automatic calculation of the position size based on your stop-loss, so a stop loss is needed to do this.
The free version of the tool does have some limitations, the following features are included.
- Planning a buy or sell trade.
- Setting the risk amount as fixed cash of account equity.
- Setting the commission calculation.
- Setting the currency.
- Setting the default stop loss or take profit.
- Drawing tool settings like opacity and colour.
- Showing compact view.
The following features are not included.
- Setting risk as fixed cash for equity & balance.
- Setting risk as a % of equity.
- Setting risk as a % of the balance.
- Submitting orders directly from the charting tool.
- Auto-position resizing when adjusting risk & reward levels.
- Automatic risk calculations when adjusting position.
- Custom instance name for multiple same symbol trading.
- Order confirmation message.
- Order types - Market, stop or limit.
- Expiry time for pending orders.
- Use of last swing high and low for risk & reward levels.
- Ability to turn off auto position sizing.
- Option to trade indices.
- Remember last stop loss and take profit values.
Full a full list of the features you can visit the user guide page.
Watch a Video Demonstration
The video has been uploaded to 1080p High Quality, so do not forget to set your U-Tube video quality to 1080p HD.
Duration: 30 minutes - Watch full screen on YouTube
How To Install
First, make sure you have the cTrader trading platform installed and then simply unzip the file and double-click on it to automatically install it onto the platform.
Read the User Guide
The user guide is for the full version, but you can also learn how to use the indicator for this free version as the settings are the same, if you see the greyed out settings as above then this means the feature is disabled.
Instant Chat Support
If you want a speedy reply to your questions just post your questions on our Telegram chat group.
Risk & Reward Tool - Full Version
If you are looking for a more comprehensive harmonic scanner with better visuals and more patterns then consider downloading our paid tool, you can start with a fully functional trial version to see if you like it.