Enable Stop-Loss/Take-Profit Areas
Last updated
Last updated
The "Enable Stop-Loss/Take Profit Areas" feature provides you with valuable visual cues for setting your stop-loss and take-profit levels. These areas are automatically calculated using our advanced algorithm, which takes into account the current market volatility.
Here's how it works:
Stop-Loss and Take-Profit Areas: The indicator displays two sets of lines on your chart β the stop-loss (SL) and take-profit (TP) areas. These areas help you determine potential exit points for your trades.
Automated Distance Calculation: The distance between the entry point and the SL/TP lines is automatically calculated based on the prevailing market conditions. This takes into consideration the current volatility, allowing for more accurate risk management.
Different Risk-Reward Ratios: The TP lines are labeled as TP1, TP1.5, and TP2. These correspond to different risk-reward ratios of 1:1, 1:1.5, and 1:2, respectively. They offer you a range of options depending on your trading strategy and risk tolerance.
Strength Setting: You can customize the distance of the SL and TP lines using the "Strength" setting. A higher value will widen the lines, accommodating varying levels of risk.
Entry Line Reference: The entry line is always connected to the most recent buy/sell signal. This helps you visually connect your entry point with the suggested SL and TP areas.