Risk/Reward Tool showing R multiples

Risk/Reward Tool showing R multiples

A request was made on the platform support forum to display entry price and stop loss for an anticipated trade with a risk/reward tool showing « R » multiples, R being the risk taken, without using the fibo tool reconfigured:

https://www.prorealcode.com/topic/risk-reward-tool-showing-r-multiples/

Until PRT includes this suggestion in a future version, here is a probuilder code proposal to achieve this.

Enter « myentry » and « mystop » values in the indicator parameters window, as well as the « Nbarres » number of bars to the right to draw the levels and text.

(As usual, download the file rather than copy-paste if you want parameters already created for the properties window)

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07/20/2021

7 posts • 37 Followers
  1. avatar
    Abouadam2 • 07/20/2021 #

    it helps thanks

  2. avatar
    Khaled • 07/20/2021 #

    Very useful. Thank you!

  3. avatar
    jonpt88 • 07/20/2021 #

    Could someone kindly modify the code until 10R? Would that be possible…

    • avatar
      JC_Bywan • 07/20/2021 #

      Hi, here it is modified for 10R:

      defparam DRAWONLASTBARONLY=true

      LeR=myentry-mystop
      OneR=myentry+LeR
      TwoR=myentry+LeR*2
      ThreeR=myentry+LeR*3
      FourR=myentry+LeR*4
      FiveR=myentry+LeR*5
      SixR=myentry+LeR*6
      SevenR=myentry+LeR*7
      EightR=myentry+LeR*8
      NineR=myentry+LeR*9
      TenR=myentry+LeR*10

      if islastbarupdate then
      DRAWSEGMENT(barindex, myentry, barindex+Nbarres, myentry) style(dottedline,1)
      DRAWSEGMENT(barindex, mystop, barindex+Nbarres, mystop) coloured(255,0,0) style(dottedline,1)
      DRAWSEGMENT(barindex, oneR, barindex+Nbarres, oneR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, twoR, barindex+Nbarres, twoR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, threeR, barindex+Nbarres, threeR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, FourR, barindex+Nbarres, FourR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, FiveR, barindex+Nbarres, FiveR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, SixR, barindex+Nbarres, SixR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, SevenR, barindex+Nbarres, SevenR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, EightR, barindex+Nbarres, EightR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, NineR, barindex+Nbarres, NineR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, TenR, barindex+Nbarres, TenR) coloured(0,155,0) style(dottedline,1)

      DRAWTEXT(“in”, barindex+Nbarres+1, myentry)
      DRAWTEXT(“stop”, barindex+Nbarres+1, mystop) coloured(255,0,0)
      DRAWTEXT(“1R”, barindex+Nbarres+1, oneR) coloured(0,155,0)
      DRAWTEXT(“2R”, barindex+Nbarres+1, twoR) coloured(0,155,0)
      DRAWTEXT(“3R”, barindex+Nbarres+1, threeR) coloured(0,155,0)
      DRAWTEXT(“4R”, barindex+Nbarres+1, FourR) coloured(0,155,0)
      DRAWTEXT(“5R”, barindex+Nbarres+1, FiveR) coloured(0,155,0)
      DRAWTEXT(“6R”, barindex+Nbarres+1, SixR) coloured(0,155,0)
      DRAWTEXT(“7R”, barindex+Nbarres+1, SevenR) coloured(0,155,0)
      DRAWTEXT(“8R”, barindex+Nbarres+1, EightR) coloured(0,155,0)
      DRAWTEXT(“9R”, barindex+Nbarres+1, NineR) coloured(0,155,0)
      DRAWTEXT(“10R”, barindex+Nbarres+1, TenR) coloured(0,155,0)

      endif

      return

  4. avatar
    JC_Bywan • 07/20/2021 #

    Hi, here it is modified for 10R:

    defparam DRAWONLASTBARONLY=true

    LeR=myentry-mystop
    OneR=myentry+LeR
    TwoR=myentry+LeR*2
    ThreeR=myentry+LeR*3
    FourR=myentry+LeR*4
    FiveR=myentry+LeR*5
    SixR=myentry+LeR*6
    SevenR=myentry+LeR*7
    EightR=myentry+LeR*8
    NineR=myentry+LeR*9
    TenR=myentry+LeR*10

    if islastbarupdate then
    DRAWSEGMENT(barindex, myentry, barindex+Nbarres, myentry) style(dottedline,1)
    DRAWSEGMENT(barindex, mystop, barindex+Nbarres, mystop) coloured(255,0,0) style(dottedline,1)
    DRAWSEGMENT(barindex, oneR, barindex+Nbarres, oneR) coloured(0,155,0) style(dottedline,1)
    DRAWSEGMENT(barindex, twoR, barindex+Nbarres, twoR) coloured(0,155,0) style(dottedline,1)
    DRAWSEGMENT(barindex, threeR, barindex+Nbarres, threeR) coloured(0,155,0) style(dottedline,1)
    DRAWSEGMENT(barindex, FourR, barindex+Nbarres, FourR) coloured(0,155,0) style(dottedline,1)
    DRAWSEGMENT(barindex, FiveR, barindex+Nbarres, FiveR) coloured(0,155,0) style(dottedline,1)
    DRAWSEGMENT(barindex, SixR, barindex+Nbarres, SixR) coloured(0,155,0) style(dottedline,1)
    DRAWSEGMENT(barindex, SevenR, barindex+Nbarres, SevenR) coloured(0,155,0) style(dottedline,1)
    DRAWSEGMENT(barindex, EightR, barindex+Nbarres, EightR) coloured(0,155,0) style(dottedline,1)
    DRAWSEGMENT(barindex, NineR, barindex+Nbarres, NineR) coloured(0,155,0) style(dottedline,1)
    DRAWSEGMENT(barindex, TenR, barindex+Nbarres, TenR) coloured(0,155,0) style(dottedline,1)

    DRAWTEXT(“in”, barindex+Nbarres+1, myentry)
    DRAWTEXT(“stop”, barindex+Nbarres+1, mystop) coloured(255,0,0)
    DRAWTEXT(“1R”, barindex+Nbarres+1, oneR) coloured(0,155,0)
    DRAWTEXT(“2R”, barindex+Nbarres+1, twoR) coloured(0,155,0)
    DRAWTEXT(“3R”, barindex+Nbarres+1, threeR) coloured(0,155,0)
    DRAWTEXT(“4R”, barindex+Nbarres+1, FourR) coloured(0,155,0)
    DRAWTEXT(“5R”, barindex+Nbarres+1, FiveR) coloured(0,155,0)
    DRAWTEXT(“6R”, barindex+Nbarres+1, SixR) coloured(0,155,0)
    DRAWTEXT(“7R”, barindex+Nbarres+1, SevenR) coloured(0,155,0)
    DRAWTEXT(“8R”, barindex+Nbarres+1, EightR) coloured(0,155,0)
    DRAWTEXT(“9R”, barindex+Nbarres+1, NineR) coloured(0,155,0)
    DRAWTEXT(“10R”, barindex+Nbarres+1, TenR) coloured(0,155,0)

    endif

    return

  5. avatar
    jonpt88 • 07/20/2021 #

    Thank you so much :). In the beginning I thought I cannot see the 10x return haha it is much lower in the daily chart. The CODE is now perfect – thank you again.

  6. avatar
    jonpt88 • 07/20/2021 #

    Hello everyone – can anyone be so kind to add to the 10R modification the 0.50R (before the 1R logically). Thank you so much.

    • avatar
      JC_Bywan • 07/20/2021 #

      Hi, with added 0.5R, happy new year:

      defparam DRAWONLASTBARONLY=true

      LeR=myentry-mystop

      HalfR=myentry+LeR/2

      OneR=myentry+LeR
      TwoR=myentry+LeR*2
      ThreeR=myentry+LeR*3
      FourR=myentry+LeR*4
      FiveR=myentry+LeR*5
      SixR=myentry+LeR*6
      SevenR=myentry+LeR*7
      EightR=myentry+LeR*8
      NineR=myentry+LeR*9
      TenR=myentry+LeR*10

      if islastbarupdate then
      DRAWSEGMENT(barindex, myentry, barindex+Nbarres, myentry) style(dottedline,1)
      DRAWSEGMENT(barindex, mystop, barindex+Nbarres, mystop) coloured(255,0,0) style(dottedline,1)
      DRAWSEGMENT(barindex, HalfR, barindex+Nbarres, HalfR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, oneR, barindex+Nbarres, oneR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, twoR, barindex+Nbarres, twoR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, threeR, barindex+Nbarres, threeR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, FourR, barindex+Nbarres, FourR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, FiveR, barindex+Nbarres, FiveR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, SixR, barindex+Nbarres, SixR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, SevenR, barindex+Nbarres, SevenR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, EightR, barindex+Nbarres, EightR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, NineR, barindex+Nbarres, NineR) coloured(0,155,0) style(dottedline,1)
      DRAWSEGMENT(barindex, TenR, barindex+Nbarres, TenR) coloured(0,155,0) style(dottedline,1)

      DRAWTEXT(“in”, barindex+Nbarres+1, myentry)
      DRAWTEXT(“stop”, barindex+Nbarres+1, mystop) coloured(255,0,0)
      DRAWTEXT(“0.5R”, barindex+Nbarres+1, HalfR) coloured(0,155,0)
      DRAWTEXT(“1R”, barindex+Nbarres+1, oneR) coloured(0,155,0)
      DRAWTEXT(“2R”, barindex+Nbarres+1, twoR) coloured(0,155,0)
      DRAWTEXT(“3R”, barindex+Nbarres+1, threeR) coloured(0,155,0)
      DRAWTEXT(“4R”, barindex+Nbarres+1, FourR) coloured(0,155,0)
      DRAWTEXT(“5R”, barindex+Nbarres+1, FiveR) coloured(0,155,0)
      DRAWTEXT(“6R”, barindex+Nbarres+1, SixR) coloured(0,155,0)
      DRAWTEXT(“7R”, barindex+Nbarres+1, SevenR) coloured(0,155,0)
      DRAWTEXT(“8R”, barindex+Nbarres+1, EightR) coloured(0,155,0)
      DRAWTEXT(“9R”, barindex+Nbarres+1, NineR) coloured(0,155,0)
      DRAWTEXT(“10R”, barindex+Nbarres+1, TenR) coloured(0,155,0)

      endif

      return

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