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To clarify my point.
If you can manage to do that dynamically you won't be getting the
risk/reward (as per my definition) - you will only be getting the
ratio of $won/$lost (or % if you standardize).
You will only get reward/risk if wins/losses are factored in (that is
why I claim that Power Factor is the standardized binomial notation
for risk/reward).
That task is what backtesting does for us.
I have used indicator panes as a pseudo backtester by plotting
ProfitFactor and its components but in hindsight it was probabaly
more an academic exercise than a trading tool.
brian_z
--- In amibroker@xxxxxxxxxxxxxxx, "brian_z111" <brian_z111@xxx> wrote:
>
> Hello kujax3si,
>
> There is no need for a special tool.
>
> The whole point of AB is to allow us to customise whatever we want
> (that is the payoff for the extra difficulty in learning AB cf to
other
> programs).
>
> This is quite easy to do.
>
> It would be to big a job for me to give you a detailed example
right
> now.
>
> One way I have done this in the past is to plot my profit stop as
an
> upper band and my stop loss as a lower band.
>
> I have used something like:
>
> UpperBand = MA(C,15) + MA((StandardDev,Periods),15);
> LowerBand = MA(C,15) - MA((StandardDev,Periods),15);
>
> Reward = UpperBand - entry price;
> Risk = Entry Point - Lower Band;
>
> This is a very crude example.
>
> It all depends on how you define reward and risk.
>
> IMO you are better off working in % change (as per my comments on
> expectancy in other posts) and I consider reward/risk as a compound
> calculation involving Wins/Losses and ave%won/ave%Lost but other
> traders us risk/reward in other ways and have a different
definition to
> me.
>
> brian_z
>
>
>
> --- In amibroker@xxxxxxxxxxxxxxx, "kujax3si" <kujax3si@> wrote:
> >
> > Is there currently a AFL or coding to get Amibroker to display
> > Risk/Reward based upon two static price points that you choose
> manually?
> >
> > For example, I draw a line for entry, a line for stop loss target
and
> > profit target. It will then calculate based upon my entry what
the
> > risk/reward ratio is given the stop loss and profit target I
select.
> >
> > Or does anyone know of a simple tool that does this calculation
very
> > quickly?
> >
> > If it isnt available in Amibroker, I thought it would be a very
useful
> > add-on so that people don't have to go to another "outside" tool.
> >
>
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