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?

Find other exclusive trading pro-tools on

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


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

nicodelhay Bonjour Nicolas Merci pour votre indicateur. Avez-vous codé les autres indicateurs publiés...

nicodelhay Je viens de retrouver un post très intéressant de laurenzo mentionant ces indicateurs : htt...

Nicolas En effet, je pense qu'ils sont présents dans cet indicateur de notre bibliothèque de codes p...

abd78 @Vonasi I saw that you did some work on seasonality, I wondered if you wanted to go here and...

Vonasi Sorry - my understanding of Italian is zero so if I watch the video I won't understand it I'...

cfta Hi Fulvio, many thanks for sharing this clever indicator, much appreciated. As Pepsmile ment...

cfta Sorry adding the PRT to code didn't work in the above comment so I guess we will have to set...

juanj Something appears to be wrong with this formula as graphing t shows t to almost never be wit...

Kosuda76 Thanks for your reply! But I do not really understand what the opposite of them the values ...

AdriTrade Good job Louis!! How could do this for the Williams indicator? Thank you very much.

imorandin Hi!, Nice code. I'm tryng to port it to another language, but I don't understand this part:...

eckaw Hi Nicolas, I'm using this indicator when there is confluence over 3 different timeframes (5...

Nicolas Yes it is indeed possible. Create a topic in the screener forum and explain what you need an...

KyleReed i've been using this for a few days now and it's really helped me a lot in timing the execut...

Bard Hi @Ale, I was wondering if you knew why, when I went to put the Kase Peak Oscillator into i...

ALE Hello Bard, because they are two different indicators

Bard Right, thanks Ale, I have taken your code and made a coloured Peak Osc (thanks again) but ...

ckat55 Thank you Nicolas, is there any way that an alert can be set for when the dot appears?

Nicolas yes, change the last line with: RETURN wrb,qh and set an alarm with the alert tool for ea...

ckat55 Thank you Nicolas, I will try it.

Nicolas Apply it on the price chart. The indicator plot just one single line. There are two in the...

jamesoc Hi Nicolas, do you happen to know if there is an indicator that can be applied to charts, to...

gustavobp Buenos dias Nicolas, al agregar tu indicador no me reconoce la variable Price ni en la linea...

Nicolas Thanks a lot for this new valuable addition to our library. I changed line 76 with "barindex...

Horance Thanks. I've noticed this leftover after submission, but it was too late for editing. BTW, I...

Etienne Thanks Horance for porting this code to PRT. I would like to bring some speedup to your cod...

Maxime Baudin Interesting, Thank you! :)

franck-david Bonjour Nicolas , actuellement je me forme grace a vos videos tres tres bien expliques mer...

Nicolas Merci. ça n'est pas le lieu pour poser ce genre de question :) Merci d'utiliser le forum Pro...

Share this

Likes