TRADERS! What is the MOST IMPORTANT aspect of a successful trading career? If you ask us - its managing RISK! Therefore, the Scripts To Trade team is proud to present to the community our brand new RISK-REWARD indicator! This tool is a powerful way practice risk management. With this indicator, you can now implement a risk vs reward framework with ease. It is FULLY CUSTOMIZABLE to cater to your trade setup. Simply input your entry, then input your pre-determined stop loss, and the code will AUTOMATICALLY plot a framework for you to understand where your entry, stop, 1R, 2R, 3R and 4R reside on the chart. It's that easy! But - of course we took it a step further in true Scripts To Trade fashion and added a risk/share calculator! Input your risk dollar amount, and the indicator will also tell you how many shares you can use so that you can perfectly calculate your desired risk without having to manually calculate it. Can you say, epic? Here's the truth. Making SERIOUS MONEY is about MINIMIZING losses and MAXIMIZING winners! Ask any 7-8 figure trader you see and they will agree that the "R" is what truly separates those who achieve massive success from those who do not. If you want to learn how to maximize your "R" this tool us a MUST HAVE!
Available now for TOS
Timeframe recommended: All time Frames.
Created For: Small Caps and Large Caps.
(Note: This Indicator is for entertainment purposes only and is not a recommendation to buy or sell a security)