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)

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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?

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  1. Abouadam2 • 07/20/2021 #

    it helps thanks

  2. Khaled • 07/20/2021 #

    Very useful. Thank you!

  3. 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

  4. 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. 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. 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

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