Free Risk Tool is script for trade and risk management by the panel and lines visible on the chart. The panel allows to draw and move trade lines on the chart: open price, stop loss and take profit line (with chosen color and style). EA calculates for them Risk Reward Ratio and possible profit/loss in account currency (based on chosen position size). The lines can be adjusted to the current price (to open market orders) or can have fixed RR (chosen value) between SL and TP. Lines can be moved on the chart and set on any level which later might be the real level of opened trade. It is also possible to remove TP and remove all lines when they are not necessary. Only one set of line is possible to apply on one chart. When lines are applied on the chart, the panel allows to open trades on chosen level pending (if price is above/below current market price) or market (when price is on the current Ask/Bid price). Lot size for the opened trades is set by the buttons and edit windows (lots, risk and cash) on the panel. There are four options for lot calculation: fixed lot size, lot based on risk from account balance, lot based on risk from account equity or lot based on chosen cash amount. Option is chosen on the button and proper edit window on the panel is available to change it’s value according to user’s choice. The rest of the visible edit windows is blocked and display the calculated value. Trades can be managed manually or by some functions on the panel: to move SL to BE (if possible), close pending orders, close only loss/profit trades or close all trades opened. Panel and the strategy might be closed by pressing gray “x” button on the right upper corner of the panel.
