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Risk-Reward indicator on Tradingview

In this indicator I want to calculate open positions easily and show risk reward val, stop loss and take profit levels more effectively.

First of all, I want to explain what is risk-reward value and why we should use that system to dont lose all money and win more correctly.

Türkçe açıklama için aşağıdaki videoyu izleyebilirsiniz

(watch the video below for the Turkish explanation)

Risk-Reward Ratio (RRR) = (Take-Profit [TP]-Entry) / (Entry-Stop Loss)

  • Take-Profit: Also referred to as profit target or take-profit level, a take-profit represents a specified price level a position (or a portion of a position) is liquidated.

  • Entry (entry price or entry point): A defined price level a position is opened. A market entry order allows traders to execute a trade at the current available bid/ask price.

  • Stop-Loss: A protective stop-loss order is in place to help limit risk in a trade.

If you dont understand pls watch this video, learn risk-reward value and why we use that when we trade

Why you wrote this indicator ?

I wanted to setup my trades more easier with this indicator, I didn't want to calculate everytime before orders, with help this indicator we can calculate R:R value, avarage price, stoploss price, take-profit price, order prices, all position cost and more ...

Let's look at our indicator

I showed which label shows which value.

What can you change from the settings window ?

We can specify risk amount in dollar, how much money you want to take risk when you stoploss

After that you should write your stoploss price, this price change when you take long or short trade.

In this indicator I wrote 4 entry price but if you want you can use just one of them or all , the most important thing when you entered all entry prices the sum of all entry weight have to 100%, in this example I determined first entry weight 25%, second entry weight 25%, last entry weight 50%

sum of all weight 25%+25%+50% = 100%

If you did that successfully indicator show you avr price and R:R value.

But dont forget write your take profit level too.

I show you an example when I want to long trade with 3 entry price,

Risk amount = 50$

Stop Loss price = 22000

1 Entry price = 23100 with 25% weight

2 Entry price = 22850 with 25% weight

3 Entry price = 22450 with 50% weight

Takeprofit price=23500

Our R:R value = 1.11 (not good value just for this example)

Average Price = 22712.5

  • You can access the strategy codes here

  • Strateji kodlarina buradan ulasabilirsiniz

  • Вы можете получить доступ к кодам стратегий здесь

If you have any problem send message from Telegram

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