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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.
 

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