The TR scanner is a valuable tool for identifying potential trades. The process of identification is based on a reward/risk ratio, calculated by two parameters:
- The distance between last price and the target level, defined by the TrendRisk system (reward)
- The distance between the last price and the stop level, defined by TrendRisk Stop Band (risk)
This market scanner filters the highest reward-risk trading opportunities based on TrendRisk System algorithm. The higher the reward/risk ratio, the more attractive is the potential trade. I want to mention that TrendRisk (the TrendRisk bands, TrendRisk indicator, and TrendRisk target) is not a trading system which gives you information when to enter a position. It’s a tool that gives signals about the potential reward at a certain level of risk, but every trader must make his own decision whether or not to place a trade.
TrendRisk Scanner provides static information for the selected time frame. In order to update this information, the user shall click on the “Refresh” button.
Users may choose which price feed, instruments and time frame to visualize in TrendRisk Scanner. Except the reward/risk ratio, TrendRisk Scanner also displays the level of the Stop Tip band (Stop Tip Up or Stop Tip Down, depending on the direction of the trend), the recommended Close and Target levels (for the respective time frames). Users can also see the time of last refreshment of the TrendRisk Scanner. All values in TrendRisk Scanner could be sorted according to user preferences.