User Submitted App Category: Indicators

This strategy has been requested by user. To make extremely flexible, it is realized as indicator.
The logic is : pick (click on the button ) and then click on the chart at the price level where you want to entry. The tool will draw 2 labelled horizontal line 1 for entry and 1 for stop loss.
Stop loss line label include risk that is calculated depending on numbers of the contracts. Each line can be set with different numbers of contracts. They can be changed dynamically until the line/price is not executed. If price hit the line – line will change his “status” to “Working” and will execute the trade Only if recent or following bar closes above/below the line. This method of placing pending/resting orders saves a lot of margin require for each placed order. It works like placing a “stealth” orders with implemented strategy. It can place BE stoploss and OCO type of orders/lines.

This tool will add midline (50%) to your Drawing tool Rectangle and Horizontals Highlight. Price label, size and value of the rectangle will also be added.