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?

Find other exclusive trading pro-tools on

PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials


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

Giogio hello dear Vonasi, thank you for your indicator, can I ask you for some help in order to let...

Pottar24 HI Vonasi I would like to know how can this algorithm give me the value of the last max e mi...

parthapersonal Hello Vonasi, Great work. Is it possible to replicate this to get values of "Price Line" (1...

tobytarczy Hi Vonasi, Sounds lovely, I race yachts around europe myself. Most regattas cancelled unfor...

mlouys Hello Vonasi thank for your work ! A question how can we do it for minutes ( or 15 min or x ...

Vonasi I think that would be possible but probably in a whole new indicator as detecting when a new...

SL Hi, Fer666 Thank you for sharing. If I want to show daily ST on a 10_min intraday chart...

SL correction above... system had remove"not equal" signs Line 19 : change to if WeekNo "Not...

SL OK... I had figured out... need more than that. Thank you anyway.

dario ti please can you help me to understand? i know i am wrong: Long Histogram = High Volume S...

TAC Bolsa hi, I have already seen the problem and requested that it be removed until an adequate so...

sixeight Hey TAC, Did you ever find a solution to this?

Vinks_o_7 b=close > low and volume > high How can we compare volume and high of the day? (orang...

TAC Bolsa If to understand something you resort to compare Oranges and bananas. You go bad, Without e...

giumagi good morning Sir, great job your indicators! How can I reach your website or blog? please..t...

JJ Tec Hola Las condiciones de entrada / salida vienen en el libro de J. Carter Mastering the trad...

Pixeldd Ich bekomme beim einfügen des Indikators einen Fehler angezeigt. Was bitte muss ich genau än...

HarryPro Hello, Firtly there appears to be a typo on line 6 "lenghkc=20" should this be "lengthkc=...

Nicolas En effet merci, erreur corrigée, la variable Risk affecte désormais comme il se doit les cal...

nader003 How can we get this indicator on MT4

Nicolas You can ask for private custom coding to our programming services: https://www.prorealcode.c...

marcov66 Hi, it seems a very useful indicator. Unfortunately the link here for the full explanation d...

TACBOLSA Discontinued indicator. we are sorry.

Azzuerus Bonjour, je teste et j'utilise vos indicateurs depuis plusieurs années, et ils me sont dev...

Balmora74 Thanks for this code. i will try to adapt it in the EUR/USD Pac Man Strategy who is based on...

Vonasi I still have two versions of the PacMan strategy on forward test although there have been va...

Balmora74 I use your version on a real account and the strategy is profitable and i did not have any p...

luxrun Roberto, I tried again to use both the SHI indicator and the WPO oscillator but they don't w...

robertogozzi WPO should work as posted at https://www.prorealcode.com/prorealtime-indicators/wpo-wave-per...

luxrun Now is ok! Thanks a lot

PastaPesto Hello Roberto! Thank you for this indicator. I thought I would try it out in a strategy, bu...

robertogozzi I just realized that there's a line that shouldn't be there. It's line 5, please remove it,...

robertogozzi I just discovered that ProOrder (for automated strategies) does not evaluate the expression ...

luxrun bellissimo lavoro, Roberto, grazie!

Akram Hi Roberto the WPZO is the bounded oscillator by percentage like the SHO Here is the artic...

bremze33 Another thing. Is it possible to make the graph lines a little thicker and not so long? Be...

giumagi Hi Sir, very good job done with this indicator, May I ask you to explain what is the line VW...

pmdr1969 Hola soy nuevo en en esto. ¿Hay algo parecido pero pudiendo tu elegir las velas a a analizar...

datageek How do I change the thickness of the line or change it too dashed lines? Kind regards

lkiklkik NE fonctionne pas ( ou plus ... )

Nicolas il faut modifier toutes les références à top par itop et bottom par ibottom. Ces mots étant ...

Jack86gv Ciao Nicolas, e possibile fare uno screener con questo codice ovvero vorrei sapere quando il...

Nicolas https://www.prorealcode.com/topic/screener-regressione-canale/

wharfdog Hi Nicolas, Fantastic work, I'm really grateful for this. I was wondering if it would be ...

Marius Zammit Still learning and very new to all this. Can this indicator be turned into an automated trad...

Nicolas Yes sure, please create a dedicated post in the automated trading forum.

leederbyshire Hi is it possible to replace the dots with red/green vertical lines? Thank you.

Share this

Likes