For me, as a trader, a tool that can calculate volume or risk depending on the stop loss level I set is very important. There are situations when there is no time at all to correctly calculate the stop loss and position volume, when every pip is valuable, then this trading utility comes to the rescue.
Capabilities:
1. Using hotkeys:
- The “s” key (by default) is responsible for showing/hiding the trading panel and stop loss and take profit levels. This option is very convenient, since trading operations are carried out infrequently and extra objects are absolutely not needed on the chart.
- The “~” key (by default) is responsible for changing the direction of trading, that is, changing the mode of the trading panel from trading to buying to trading to selling and vice versa. A very convenient option in that there is no need to see buy and sell buttons on the chart.
- You can choose a key convenient for you from the list in the settings.
2. Using two modes of risk and volume calculation (the first button on the panel):
- If the button says “lot” , then the Fixed position volume mode is enabled, in which the trader changes the volume value and sees the resulting Risk in percent and account currency at the level of the set stop loss.
- If the button says “%” , it means that the Fixed risk mode from the deposit is enabled, in which the trader changes the risk value and sees the resulting position volume and the final risk in percent and account currency at the level of the set stop loss.
3. SL button . Clicking leads to the display of the Stoploss level on the chart. You can change the Stop Loss level by moving the line to the required price level. In this case, the data on the stop loss size, position volume and risk will be recalculated immediately. Be sure to set the Stop Loss level before opening a position!
4. TP button . Pressing leads to the display of the TakeProfit level on the chart. You can change the Take Profit level by moving the line to the required price level. At the same time, data on the size of the take profit and the potential amount of profit will be recalculated immediately.
5. Buy (or Sell) button . Responsible for opening a market order according to the specified parameters.
6. If Show a message when the transaction is opened? after clicking on the Buy (or Sell) button, a window will open with data on the position being opened and confirmation of the transaction.
7. 7 standard color schemes. The colors and styles of the TakeProfit and Stoploss levels, as well as the font and font size of the inscriptions, are set separately. The length of the TakeProfit and Stoploss lines is set in bars.
Options:
Money Management - Money Management settings block
TakeProfit by default, pips – Default TakeProfit size, pips
StopLoss by default, pips (considering Indent)
Indent for StopLoss, pips – Indent for Stoploss from the specified level, pips
Show a message when the transaction is opened? – Show a warning message before opening a trade?
Magic Number - Magic number
Design - Design setting block
Hot key for swap type trade - Hot key for changing the direction of trade
Hot key for show/hide panel - Hot key to show/hide the panel
Panel color scheme - Panel color scheme
Font for text TP and SL – Text font for TakeProfit and Stoploss levels
Font size for text TP and SL – Font size of the text of the TakeProfit and Stoploss levels
Text color at the level TakeProfit - Text color of the TakeProfit level
Level color TakeProfit – Takeprofit level color
Line style TakeProfit – TakeProfit level style
Line width TakeProfit - The thickness of the TakeProfit level
Text color at the level StopLoss - Text color of the Stoploss level
Level color StopLoss – Stoploss level color
Line style StopLoss – Stoploss level style
Line width StopLoss – Stoploss level thickness
Length of level, in bars – Length of Take Profit and Stop Loss levels, in bars
IMPORTANT!
Before opening a trade, be sure to set the Stop Loss to the desired level, otherwise the risk / volume may be calculated incorrectly! That is, when opening a deal, the SL button must be pressed and the level must be displayed on the chart of the traded instrument.
Checked only on currency pairs!
Works only with dollar accounts!
