Saxo Bank, the Copenhagen-headquartered online trading and investment firm, has launched Trade Navigator on TradingFloor.com, a new tool that provides daily technical insight to traders.

The new platform will allow traders to look up and be guided on where to buy and sell assets, while also giving them the insight they need in order to make informed decisions and manage risk, the firm said.

“Trade Navigator is a vital aid to help our clients refine their trading strategy. With this new tool we now not only provide our clients with the best tools to execute trades but complement these with the best tools to inform their trading activities. This new tool is another example of our focus at Saxo Bank on developing useful tools to facilitate precision trading,” said Ole Sloth Hansen, vice president at Saxo Bank.

Trade Navigator can be used by traders to set stops, take profits and make entry points for daily trading on more than 200 instruments within forex, commodities, bonds and equities. It is built around daily pivot points to indicate when to trade, but it also uses the relative strength index, break outs and Bollinger bands, the firm said.