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)

Share this

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 : How to import ITF files into ProRealTime platform?

Find other exclusive trading pro-tools on ProRealCode Marketplace

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

avatar
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

avatar
Register or

Likes

avatar avatar avatar avatar avatar avatar avatar
Related users ' posts
avatar
Steven Hi im looking for some help to put a automated code together BUY ORDER If EMA 10/25 is...
avatar
Dwell Thank you! Great tool!
avatar
ftrader8637 Any possibility to have this for multicharts. Sorry I am not a programer :-(
avatar
Nicolas Hi, we do not offer free assistance for other trading platform than ProRealTime. There is no...
avatar
MauroPro It is possible to apply this indicator ON the chart , because when I try to apply the formul...
avatar
Nicolas Yes, just apply it on the price chart by using the wrench on the left upper side of your pri...
avatar
MauroPro Hi Nicolas, thanks for the reply, I managed to apply the indicator on the chart.
avatar
Geronima Ortiz okay bien estaré pendiente en esta pagina gracias
avatar
Domenec Aqui dejo colgado link del video para ver como funciona el indicador https://www.youtube....
avatar
Geronima Ortiz Gracias Domenec
avatar
Juanjo Hola?. Exactamente cuál es su utilización?.
avatar
bolsatrilera Hola Juanjo, su principio esparecido a las bandas de Bollinguer.Las lineas de las bandas son...
avatar
Gordon101 Hi when I added your Guppy indicator to my chart it went below the chart beside the oscilla...
avatar
Nicolas Add it on the price by using the wrench located on the left upper side of your price chart.
avatar
Gordon101 Thanks Nicolas, worked a treat.
avatar
Geronima Ortiz I watched the video three times, but I can not put the npips parameter as a variable. I do...
avatar
Geronima Ortiz I think the video is for an old version of prorealtime, the images do not correspond at all ...
avatar
Nicolas indicator1 = CALL “PRC_StopReversal”[npips, 1] and define npips in the optimization window ...
avatar
Etienne Hi, thanks for proving this code. I would like to contribute by adding a computation speed...
avatar
Etienne //Compute Super Smoother coefficients once if barindex = 1 then a1 = exp( -1.414 * 3.14159...
avatar
Nicolas Thanks a lot!
avatar
Rafa And the PriceMAPeriod? aren´t the same?
avatar
Nicolas The PriceMAPeriod is the period to make the average of all the last X medianprice found.
avatar
Rafa Thanks a lot Nicolás. Have a nice day
avatar
bolsatrilera
7 years ago
Kairi Relative Index
Kairi Relative Index
0
Indicators
avatar
GraHal Wow! Thank you Vonasi, great idea!
avatar
Vonasi No Problem GraHal. Please share anything interesting that you find using it.
avatar
Vonasi I've made a small improvement by adding a Buy and Hold line for comparison. This line can be...
avatar
Maxime Baudin Thanks!
avatar
anametsinwha Is it possible to change it to highs and lows rather than open and close?
avatar
Caribeengeek Bonjour j’avais vu que vous proposiez d’écrire des codes pour ceux qui s’y connaisse pas Mai...
avatar
Caribeengeek Les devises unité
avatar
Nicolas Merci d'utiliser le forum pour les demandes de programmation personnalisée
avatar
juanj
7 years ago
3in1 Gap Meter
v10.3
3in1 Gap Meter
#gap #gaps
0
Indicators
avatar
Vonasi Thanks for your thanks Real Pro and yes everyone should import the itf file to make sure tha...
avatar
Pepsmile Good job, which could be applied for a spectrum of another indicators.
avatar
Pepsmile As to better understand which parameters are better for an indicators in a specific period (...
avatar
Bard I was talking to a Machine Learning coder today who's algos have apparently managed to get 7...

Top