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Devexperts has launched a new drawing tool within its DXcharts financial charting library, designed to help traders assess potential profit and loss on trades at a glance.
The Risk Reward tool generates two drawings: 'Risk Reward - Long Position' and 'Risk Reward - Short Position', displaying the potential profit and loss for both positions on a trade. Orders can be placed directly from the drawing tool once a trading decision has been made.
The tool is available immediately and comes as part of a wider DXcharts update. It includes options for colour and style customisation.
The addition follows DXcharts' recent introduction of the ability to create custom indicators directly from within charts using AI assistance.
DXcharts is a financial charting library combining advanced technologies, customisation capabilities, and documentation for capital markets software. The library includes an indicator library of more than 100 indicators and over 40 drawing tools, and enables traders to work directly with orders and positions, choose between layout options, and compare instruments.
Denis Krivolapov, Product Manager, DXcharts
Denis Krivolapov, Product Manager, DXcharts said:
"We are pleased to have added Risk Reward to our range of specialized tools and capabilities designed to deliver an optimum trading experience. The feature will allow traders to assess risk and reward seamlessly as part of their charting journey, and place orders directly once this has been done. Offering this level of visual analysis goes far to improve traders' ability to make better trading decisions - supporting better performance and greater satisfaction and engagement, as a result. As ever, our aim is to constantly improve our offering to ensure that traders are getting the most out of DXcharts - we hope they will enjoy Risk Reward and look forward to elevating our charting experience further still with more new features soon."
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