Canada-based online trading and investment services provider Questrade has announced the release of IQ Edge 5.0, with the latest version of the trading platform offering traders a new profit & loss calculator, enhanced bracket orders and VWAP studies.
Profit and loss calculator
This tool enables traders to explore the risk and rewards of an option strategy before they ever place a trade.
The P&L calculator lets traders adjust variables such as the underlying price, volatility, and interest rate, and then get a graphical estimate of their potential profit and loss based on price targets and dates. The tool also enables traders to see how their maintenance excess and buying power are affected by variables they enter, without actually placing an order. In addition, the calculator lets traders see the position Greeks of an option strategy.
Bracket order enhancements
Those who’d like more control over their exit orders would appreciate this feature.
Traders can define the stop and limit prices of their exit orders based on a percentage or dollar offset of the primary order’s last fill price so that they no longer need to calculate their own exit target prices.
They can also place trailing stop and trailing stop limit orders for the loss exit legs of their brackets; quickly close out a strategy by changing the profit leg to a market order; and set different order quantities on any leg of an open bracket order.
VWAP and volatility studies
Traders can now add the following four studies to their charts:
- Implied and historical volatility (IV and HV);
- Implied volatility over historical volatility (IV/HV);
- Implied volatility rank (IV rank);
- Volume weighted average price (VWAP).
Percentage portfolio calculations
With this release, traders are provided with a more comprehensive view of how their investments are allocated. The cash balance is now included in the % portfolio calculation.
You can find out more about the latest set of enhancements to IQ Edge by clicking here.