Risk/Reward Tool showing R multiples

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Viewing 8 posts - 1 through 8 (of 8 total)
  • 07/05/2021 at 3:56 PM #173177
    Zac

    Hi,

    I’ve been looking for a risk/reward tool in PRT, and the search function sent me here.

    I’m looking to mark the entry price and stop loss and see where 1R, 2R, 3R, etc., fall on the chart.  Does anyone know whether something like that exists? I’d rather not reconfigure the Fib tool if I can avoid it.

    07/07/2021 at 4:45 PM #173305
    Maverick

    Dear Zac,

     

    Following your request, please note that such a risk/reward tool does not exist yet, but this is a good suggestion.

    We already had this suggestion and we are taking it into account for our future improvements.

    Meanwhile, i invite you to you ask the ProRealCode community if there is a way to code an index in this sense.

     

    Regards,

     

    Victor from ProRealTime.

    1 user thanked author for this post.
    avatar Zac
    07/07/2021 at 6:49 PM #173316
    JC_Bywan

    Hi, here’s a probuilder personal indicator to add to the price window, you just need to create the 3 entry parameters myentry, mystop, Nbarres respectively your expected entry level, your expected stop and the number of bars to the right to draw the levels and text. Then you can just change them from the indicator properties window. It works for both long and short, as long as stop is positionned accordingly compared with entry, it will automatically place 1R,2R,3R in the right direction. Any request to modify, please ask I’ll see what more I can do:

     

    3 users thanked author for this post.
    avatar PLermite, avatar Nicolas, avatar Zac
    07/10/2021 at 6:48 AM #173397
    Zac

    Thank you for the code. It is much appreciated. The screenshot appears to be exactly what I have been looking for.

    07/12/2021 at 11:25 PM #173554
    Roberto S.

    I am using an updated version of the Fibonacci tool.
    Basically, I configured that tool to show lines at 0 (entry point) and 100 (stop loss). Then, I show -100 (R1), -200 (R2) and so on…
    I am not the smart man… I am pretty sure I copied it from someone else here in this forum, but I don’t have the original post (sorry).

    In attachment a screenshot of the configuration.

    In order to use it, for example in a long setup, you have to start from the SL and define the entry point (at least one day after otherwise it doesn’t work).

    1 user thanked author for this post.
    avatar Zac
    07/20/2021 at 12:33 PM #173865
    Zac

    I appreciate the time you took to create/share the code. Unfortunately, I am unable to get it working on FX.

    Have I made an error?  The values are based on EURUSD D1 chart today (July 20th).

    I have also attached a screenshot of the error message.

    PRT-Error

     

     

     

    07/20/2021 at 12:56 PM #173871
    robertogozzi

    DEFPARAM should be line 1, not 12.
    Move it to the first line after the comments.

     

    2 users thanked author for this post.
    avatar Zac, avatar JC_Bywan
    07/20/2021 at 6:35 PM #173908
    JC_Bywan

    Thanks Roberto, hi Zac, the code is now in the library, you may prefer to download it from there, it will have the parameters defined in the properties window, and rather than having to type them in the code listing you can change them from the indicator properties window:

    https://www.prorealcode.com/prorealtime-indicators/risk-reward-tool-showing-r-multiples/

     

    1 user thanked author for this post.
    avatar Zac
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