Risk /Reward Ratio

adarty73

New member
Hi im trying to make a study that its calculating the Rewards how many R's after my Entry. Where is this example my Entry is $13.00 my Stop is $12.80 so I'm risking $0.20 cents per share. Also it calculates how many shares I need to buy if im willing to risk the most $50.00 dollars. In my first Label shows the percentage change since my Entry.
My problem is when I add my last label I want to calculate how many r's or Rewards I'm making after the price . For example my first R= when the prices hits 13.20 that is my Entry + my Risk that is 1 R, for a 2 R would be Entry plus 2 times Risk etc.... so they way to do it is get the last price and substract the Entry then divide the Risk.... I can do it on Google sheet perfectly but is not working. I don't know why anyone can help me with the code?

input Entry =13;
input Stop_Price =12.80;

def last = last;
def RiskAmount = 50;
def riskPerShare = Entry - Stop_Price;


#def percentage = ((last - price) / last);

AddLabel(yes, "% Change: " + (close - Entry) / close * 100 + "%", Color.MAGENTA);

AddLabel(yes, "Risk: " + riskPerShare + " Shares: " + (RoundDown(RiskAmount / riskPerShare, 0) ), Color.WHITE);

#AddLabel(yes, "R's= " + (last-Entry)/riskPershare, Color.BLUE);
 
Hi im trying to make a study that its calculating the Rewards how many R's after my Entry. Where is this example my Entry is $13.00 my Stop is $12.80 so I'm risking $0.20 cents per share. Also it calculates how many shares I need to buy if im willing to risk the most $50.00 dollars. In my first Label shows the percentage change since my Entry.
My problem is when I add my last label I want to calculate how many r's or Rewards I'm making after the price . For example my first R= when the prices hits 13.20 that is my Entry + my Risk that is 1 R, for a 2 R would be Entry plus 2 times Risk etc.... so they way to do it is get the last price and substract the Entry then divide the Risk.... I can do it on Google sheet perfectly but is not working. I don't know why anyone can help me with the code?

input Entry =13;
input Stop_Price =12.80;

def last = last;
def RiskAmount = 50;
def riskPerShare = Entry - Stop_Price;


#def percentage = ((last - price) / last);

AddLabel(yes, "% Change: " + (close - Entry) / close * 100 + "%", Color.MAGENTA);

AddLabel(yes, "Risk: " + riskPerShare + " Shares: " + (RoundDown(RiskAmount / riskPerShare, 0) ), Color.WHITE);

#AddLabel(yes, "R's= " + (last-Entry)/riskPershare, Color.BLUE);

Your def last = last is the problem. As close is the floating last price, def last = close.
 

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
521 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top