staticliquid RR

£10.00

Category:

Description

 

Introduction

Risk:Reward is a critical element in risk management.  This tool is designed to make planning trades, managing open trades, and reviewing trades much easier by automating the RR calculation and displaying right on your chart in front of you.

For more in depth info on how RR can help your trading, visit our educational section.

Usage

Display Pending RR enabled, will automatically overlay the pending order on your chart with the following information:-

  • size of your risk (R) in pips
  • size of your target in pips
  • how many R’s your target represents relative to your your risk
  • markers to indicate where each whole R falls up to your target

 

Display Evolving RR enabled, will automatically overlay current open trades with the following information:-

  • size of your current evolving risk (ER) from current price to your stop in pips
  • size of your current evolving target (ET) from the current price to your target in pips
  • how many R’s your evolving target represents relative to your your evolving risk
  • size of current locked in profits in pips, when your stop is beyond  your initial entry price

Display Manual RR enabled, gives you the ability to view RR as per pending orders, but anywhere on the chart freely without having to have a pending order.  Primarily this allows for easily viewing RR on closed trades, or to visualise the initial planned RR for an ongoing trade where the evolving R has matured. You can:-

  • manually move the line given to create the risk area
  • enter the number of R multiples for the target that should be automatically created and visualised.

 

Finally, you may tweak the display of the information to your liking with the filled boxes and grayscale options.

 

v1

  • Initial Release

 

Download

You will be provided a download link in your staticliquid account, and order email immediately after purchase.  You are permitted to download this indicator a maximum of three times, within five days.

By downloading this software you agree to the terms and conditions of staticliquid.

Installation

Download the zip file containing the indicator and extract the ‘.algo’ file.  As long as you have cTrader already installed and running, simply double click the ‘.algo’ file, and cTrader will prompt you to install it automatically.

Setup

Right click your chart, goto indicators –> custom –> staticliquid RR

Configure Options to suit your needs:-

  • Display Pending RR. Set to yes if you want RR displayed on pending orders. [Default = Yes]
  • Display Evolving RR. Set to yes if you want ER displayed on open positions. [Default = Yes]
  • Display Manual RR. Set to yes if you want the manual RR tool active. [Default = No]
  • Max Manual #R.  Set to the number of RR you wish to be displayed for the manual RR feature. [Default = 5]
  • Filled Boxes.  Set to yes to display filled boxes, set to no to display in wireframe. [Default = Yes]
  • Greyscale.  Set to yes to display in grayscale, set to no to display in colour. [Default = No]
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