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
adeelq79 Great work Ivan. Thanks
avatar
Quino Another really interesting indicator. It works very well on periods below 25. Just a few cos...
avatar
supertiti hola Ivan Eso quiere decir que el Parabolic sar RSI est igual al parabolic sar de PRT ? p...
avatar
supertiti buenas tardes Ivan me gusteria tener lo mismo on chart con los puntos azules y rosas de c...
avatar
LucasBest Thanks for the translation. This one can be compared to dynamic zone RSI
avatar
Iván
1 month ago
RSI Divergence Detector
RSI Divergence Detector
#Divergence #RSI
0
Indicators
avatar
Iván Sorry... There is a mistake in line 76. Should be if openday[i]openday[i+1] then
avatar
DLVx You do not specify how to read the Calmar ratio. Above 1 is OK and 0 is neutral? Can you she...
avatar
DeathMetal
avatar
Marc Boliart TY!!!
avatar
lee HI thank you for this indicator. Is it possible to create a screener based on this for when ...
avatar
xpe74 Hello it seems the file format does not allow to import the file. At importation stage, an e...
avatar
Iván You always can copy/paste directly from the post
avatar
roccafragius Thank you so much, for my point of view very useful!!!
avatar
Marc Boliart YW!
avatar
NicoGB67 Excelente trabajo!!
avatar
Jrmjrm Bonsoir est-il possible d'avoir cet indicateur, mais à la place du Wilder Average, utiliser ...
avatar
geroniman merci Ivan, super indicatuer. Les cours vont souvent toucher 50% des zones vertes ou rouges....
avatar
Iván Pour ajouter une ligne supplémentaire, il suffit de créer une nouvelle variable, par exemple...
avatar
Maurizio A. excellent indicateur ! comment puis-je modifier le code pour afficher uniquement les dernier...
avatar
MARTINALA CARTINA fantastico,
avatar
Iván Hi! just change line13 for this: showsignals=1
avatar
Quino Hi Excellent indicator as usual. Just 2 questions: Why LenH and LenL = 15 as Len could be...
avatar
Iván Hi! good question. This is a code request traslation from other platform. I took same inputs...

Top