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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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.

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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

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