What is Risk Vs Reward?
The risk is the monetary value of how much you are going to lose if your trade fails. The reward is the amount of money which you will earn if your trade wins. The ratio of risk-reward indicates how much you are risking per dollar to get a profit. This indicates the quality of a trade. Your quality of trade improves when you have higher risk reward ratio.
If you risk $30 in order to earn $100 then your risk reward ratio is, $100/$30 = 3:33. For each $1 of risk, you will earn $3.33 of profit. Manually calculating this for each of your currently opened traded is hectic. Hence this indicator helps you to automatically calculates everything & shows you the result on the chart.
Auto Calculated Risk Reward Value:
Advance money management tool for day traders to position traders. Calculate Risk reward ratio per open position or trades. Total monetary values, risk amount, reward or take profit amount. Also, shows the amount of money which is riskfree or in locked profit position.
Account Balance Alert:
For busy forex traders, it is not always possible to keep an eye on the trading computer screen all the time. Hence with account balance alert, total risk, total locked profit alert one can keep doing their daily job & stay updated about their account balance.
For example, if you have 7 trades active on your Metatrader terminal, you want to get an alert when “Total Risk” goes above $500. You can do this with this indicator. Also, you can get an alert when your account balance reaches up to a certain amount (example $1000)
Not mention with this indicator it is possible to get an alert for a trailed stop too. If you have any profitable trade running & you want to receive an alert when your trailed position value reaches a certain level. You can set up your alert for emails, mobile push messages & MetaTrader terminal alerts.