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