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

Vinks_o_7 Thanks again Vonasi !

Bard Thank you, this is a great tool @Vonasi, especially for those that used to like shorting Ind...

Aragorna Hi Vonasi, is there a reason why it does not work anymore in new version ePRT Platform? tha...

jiddan78 how to convert to afl amibroker ?

Nicolas We do not supply free coding assistance for AFL Amibroker on the website. You can ask for pa...

Ngomsi @ Vonasi, how to use timeframe , 13 minutes ,21 minutes, 34 minutes,et 55 minutes with this...

Theo D'accord merci

tobytarczy Hi, I have been looking for something like this. I have a f questions about the indicator. ...

tobytarczy Hi have been trying to modify the code you so kindly shared to reflect to the image you have...

sycomore Ça ne fonctionne sur aucune valeur, je dois être trop con...

Nicolas il faut appliquer l'indicateur sur le prix.

AntoGH Je crains de ne pas comprendre... Cela indique la probabilité de la prochaine bougie ou donn...

manchokcity can we have it in mql4 platform? or how or which platform do we use it?

camporan I don't use MetaTrader so I won't be able to do the translation myself. Sorry!

Alexander9 This can for amibroker ? . Thanks

Tradingrob Hi Nicolas, i am not that of a coder.. Did you make already a new PRC so we can download the...

Tradingrob Was easier than i thought! thanks! it works now great!

falco44 Bonjour Nicolas, L'indicateur n'affiche rien, peux tu m'aider stp ?

riz001 thnk u

geroniman bonjour Nicolas, j ai un indicateur le Tiger . J aiemrai placer des fleches buy et sell dire...

Nicolas Merci de formuler les demandes sur le forum. ça n'est pas le bon endroit et hors sujet ici ! ;)

Nicolas I think that you are trying to put an indicator code into a strategy or a screener code. Ope...

szohori is there a rs indictor that compare the stock to the spy?

Weldzar Could you share the screener you have created?

Teddy Coronak Bonjour Nicolas , je voulais simplement te dire merci pour cet indicateur. Très simple et...

€Ȝ Hi Nicolas, Excellent piece of code. I used your concept in one of my own indicators too wh...

Nicolas Thanks a lot for the tip.

ggolfet Thanks Nicolas, I imported the itf file and solved the problem.

Hasardeur Hallo Nicolas, i tried to code the multi period heat map in combination with the Ehler’s ...

Nicolas Please open a new topic with the code in forum.

redactv7 On my charts, the indicator doesnt go on the upper pannel, on prices, but under like an osci...

Nicolas apply in on the chart, look at this how-to video: https://www.prorealcode.com/blog/video-tut...

jonpt88 interesting code thanks!

Bard I've also just noticed that changing the "Bands Deviation" setting from 1.25 to eg 3 doesn't...

bartekz Hi @Nicolas, Really impressed by your work. I am trying to replicate the Wave-PM indicator t...

Nicolas You don't have to replicate it, download the file and import it into your platform.

LucioleLucide Clean view, thanks for sharing

dertopen hi where i can found the window for candle configuration?

paolosab69 Ciao! . I have seen the pictures that explain this metod but i don't understand when is mome...

ed65 hi great indicator how can i adjust time frame for opening rge ie to first 5 min , thanks in...

Thomas The you must use the timeframe 1min and change the code from endtime = 090000 // 09h00 to ...

killerplatuze Dont work anymore with the current version?

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