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 in 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.
- We are setting the commission calculation.
- We are setting the currency.
- Setting the default stop loss or take profit.
- Drawing tool settings like opacity and colour.
- Showing compact view.
- Only 1 buy and 1 sell trade can be submitted simultaneously per chart.
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 YouTube video quality to 1080p HD.
Duration: 30 minutes - Watch full screen on YouTube
How To Install & Remove
First, make sure you have the cTrader trading platform installed and then unzip the file and double-click on it to automatically install it onto the platform.
If you have any questions, please first search our product help forum for the answer, if you cannot find it, post a new question.
Blank Settings Screen
If you see a blank screen when you open the settings window, this could be because you are using an older version of the Windows operating system and need the NET framework 4.8 installed, follow the link below for help.
Need a Broker
If you are still looking for a broker you can trust, take a look at our best cTrader broker site.
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.