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

Alai-n I also have the same problem that I can not solve especially on LowVolume (Yellow) ... Sorry

Mert No need to apologise, my friend. It is great code. I hope you find a solution soon. Regards.

gabri I think it's because the lookback period changes at every new bar and that means that many c...

Reiner great work:-)

Vonasi Thanks Reiner. that is compliments indeed from the seasonality expert. I have a second vers...

Sagal Hi Vonasi, Can it be presented as a 1 year graph displaying a 5 year average or 10 year aver...

Vonasi I noticed a couple of typo errors in the code. The list of variables lines 4 to 11 should be...

Genotik Thank you for your important contribution this week which is much appreciated! Happy New Yea...

Vonasi No problem. I hope they are useful to someone. Happy and hopefully prosperous New Year to y...

DarioMazza Hi Vonasi, i have a question for you, the comand "pricetype" where did you found it in the ...

Vonasi PriceType is just a variable that I use. The value decides what type of price is used in the...

Vonasi The indicator code can easily be adapted for use as a filter in strategies as well. For exam...

AVT Tested today in manual DAX trading (transcripted to MT and changed look into aka oszillator)...

Vonasi I think that short time frame charts will be too noisy for this indicator. One blue bar real...

Vonasi I forgot to mention in the description that Sunday pivot lines are ignored and Monday's pivo...

AVT Like that, simple and clear!

Vonasi Thanks AVT. I like simple - some people would say that I do simple very well! Sometimes you ...

Nicolas Oui. Pour changer la période, il faudra ajuster la variable MMperiod

macbartin plus la période est grande (en occurrence 20) plus l'indicateur est précis dans les changeme...

Hasardeur Hallo Nicolas, in John Ehlers book "cycle analytics for Traders" from 2013, Mr. Ehlers desc...

MaoRai54 Hi, first of all Happy New Year. Well, I've inserted your indicator in DAX 1h but I cann...

Vinks_o_7 Hi Mao Happy New Year ! This is just an improved RSI where you plot a standard price momen...

SpreadBetMH Hi there, I have V11.1. I get the Indicator but no Arrows on the price. Kind Regards...

Alai-n Ciao Francesco, sei ancora in giro?

Metodi97 This indicator is great but can someone create strategy based on the same indicator it will ...

cervantes2 Buenas tardes y gracias por este magnifico indicador. Queria saber si tienes un proscreener ...

cervantes2 Que busque los valores que la linea verde acaba de cruzar al alza o a la baja

AngelPujalt Tenéis algún screener de este indicador?

Nicolas Formule de l'indicateur Momentum: Le Momentum se calcule avec une simple soustraction pour ...

Roberto1 Hi, can this code be converted for the Nanotrader Platform or for the MT4 Platform?

Nicolas This website is dedicated for PRT programming, but you can still ask for private coding with...

Nicolas Tutte le impostazioni che hanno la parola "period" sono quelle dedicate ai periodi di cambio...

GianfrancoCeck Le chiedo una ultima cosa, ossia se è possibile personalizzare l'indicatore con una scritta ...

Nicolas Spiacente che non sia possibile, le coordinate grafiche non sono in pixel ma nel prezzo e ne...

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Alby118 i can get it to work? dax 1 min. upload indicator on the4 chart. thank you

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