The long and short prediction tool is a feature on TradeLocker that helps you visualize the stop loss and take profit of your long and short trades directly into the chart.
The long and short prediction tool is a game-changer for visual learners. It graphically displays risk-to-reward ratios on the chart. By doing so, it allows quick adjustments, enhancing real-time decision-making.
This feature is especially useful for strategy testing, letting you visualize different scenarios before committing capital.
The long and short prediction tool also serves as a constant reminder of your trading plan, discouraging impulsive actions that deviate from your initial strategy.
Here’s how to use the long and short prediction tool:
- Select the instrument or currency pair you want to analyze on the chart.
- Find the long and short tool icon represented by three horizontal lines with a diagonal line in the middle.
- Position the cursor at the point where you want to place the prediction and click the left mouse button.
- A prediction graph on the chart indicates a standard value and pips. Take profit is the green area and stop loss the red area for your buy or sell trade.
You can adjust the position of the prediction rectangle by selecting it and dragging it onto the desired location on the chart.
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