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)

// PRC_Custom_R_tool | indicator
// 07.07.2021
// Noobywan @ www.prorealcode.com
// Sharing ProRealTime knowledge
// PRC marketplace store:
// https://market.prorealcode.com/store/volume-profile-solutions/

// List of Parameters to configure in the properties window:
// myentry, type decimal, your entry level
// mystop, type decimal, your stop level
// Nbarres, type integer, number of bars to the right for segments and text

defparam DRAWONLASTBARONLY=true

LeR=myentry-mystop
OneR=myentry+LeR
TwoR=myentry+LeR*2
ThreeR=myentry+LeR*3

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)
 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)
endif

return

// PRC_Custom_R_tool | indicator

// 07.07.2021

// Noobywan @ www.prorealcode.com

// Sharing ProRealTime knowledge

// PRC marketplace store:

// https://market.prorealcode.com/store/volume-profile-solutions/

// List of Parameters to configure in the properties window:

// myentry, type decimal, your entry level

// mystop, type decimal, your stop level

// Nbarres, type integer, number of bars to the right for segments and text

defparam DRAWONLASTBARONLY=true

LeR=myentry-mystop

OneR=myentry+LeR

TwoR=myentry+LeR*2

ThreeR=myentry+LeR*3

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)

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)

endif

return

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments :

Filename : download the ITF files

How to import ITF files into ProRealTime platform?

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Abouadam2 • 07/20/2021 #
it helps thanks

Khaled • 07/20/2021 #
Very useful. Thank you!

jonpt88 • 07/20/2021 #
Could someone kindly modify the code until 10R? Would that be possible…
- 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

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

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.

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.
- 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

pyhrus P.S : IG , que j'ai contacté ,m'indique que la version V11 , ne sera pas disponible avant un...

Hasardeur Dear Nicolas, is there someting at the arry to modify in order to run the trend at the actu...

MALIMALO Dear Nicolas, just try touse your indicator with backtest but it's not working. is anybody...

Vonasi Sorry - I'm not coding anything at the moment.

IG_CFD_Trader Hi Vonassi, Your coding skills in PRT are amazing. Keep up the great contributions. I have...

jmf125 Any reason why this indicator would have stopped working. Tried to run it on v11 and v12 but...

Nicolas Check your custom trading hours and use the default market ones.

fj_pastor Hello Nicolas, Thanks again for all your support. Finally I debugged the problem. The sim...

kallistos Hi Nicolas, Thank you very much indeed for this indicator (and all the others you are provi...

ribes65 Bonjour Nicolas, Merci pour votre travail. Est-il envisageable de créer un screener pour ...

Nicolas Bien sûr, merci de formuler une demande dans le forum des screeners pour prorealtime. En res...

ipbvba Est il possible de le transformer en indicateur (pour ne plus avoir les lignes mais uniqueme...

Rory Dryden Thank you. Experimenting with it now.

Wolf Hi Vonasi. Thank for this indicator. I like this calculate concept. I think that line 16 thi...

Vonasi Well spotted! It is just a safety check to ensure that no value below 1 can be used otherwis...

supertiti Bonjour Nicolas, Je ne comprend pas bien , le trend change de couleur quand les prix sont a...

Nicolas Oui ce serait possible, cependant l'indicateur est bien prévu pour conserver la couleur de l...

supertiti Quand tu pourras si tu peux nous coder la troisième couleur cela améliorerait les trades cou...

Nicolas How to import file page: in the help section of the website explains howto

kenssa import through the indicator page/window in the Proreal time

chicoteca Buenas, no consigo que se me muestre en el chart de DAX. ¿Cómo procedo? Gracias.-

Vonasi Thanks for the compliments. No this is not easily possible in v10.3 because it uses arrays w...

bruces Hi and thank you. I successfully imported original version above and added to my Prorealtim...

Musiar Hi Vonasi, The indicator is working like a charm on PRT v12; trying to adapt it for a strat...

JohnScher I've been looking for this for a long time! A very big thank you to you.

Nupsator hi, looks very interesting, i imported the indicator and inserted it into a 1h chart. Unfort...

Ciccarelli Franco Lo trovo interessante, ma non riesco a scaricarlo. Chi mi può aiutare?

Bard Excellent job Vonasi, thanks very much for updating and improving your previous indicator.

Gianluca sorry but doesnt work like you posted

Vonasi You would need to let me know the exact instrument and time frame that you are trying to app...

ipbvba idem ne fonctionne pas sur V11 (meme avec real time data), import OK mais aucune courbe dans...

Ciccarelli Franco I'm new to the Market, I imported the code, but I don't see anything, there is an empty box ...

tradermikey Is the available for v12?

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