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Does this do what you want?
entry = param("entry", 100, ...
profit = param("profit", 110,
...
loss = param("loss", 95, ...
rr = (profit - entry) / (entry -
loss);
plot(c, "", ...
plot(entry, "", ...
plot(loss, "", ...
title = "entry = " + entry + " profit =
...
Bill
----- Original Message -----
Sent: Thursday, February 28, 2008 4:20
PM
Subject: [amibroker] Re: Simple Risk/Reward ratio on
chart
>
Brian,
>
> Thank you for the reply. It sure makes
sense. However, i'm not
> positive on how about doing it. For
example, I understand how to
> setup horizontal lines (or
support/resistance) lines but not sure how
> to have them speak to each
other and then to my entry price (which
> i'll obviously have to put a
line there as well) to give me the
> specifics in the "Interpretation"
window.
>
> Example: Lets say that I am looking at an EOD
chart and want to take
> on a position based upon my findings on the
chart.
>
> Entry: 100
> Profit:
110
> Loss: 95
>
> I would like to create a line or
specify the entry via the chart as
> 100, and then again specify hopefully
on the chart my profit target as
> 110 and loss at 95 with two separate
lines.
>
> Then in the interpretation window it says the above
information
> (entry: 100/Profit: 110/Loss: 95) and then "reward/risk
ratio: 2"
>
> Then I can easily say "okay, i'm looking for 2, so I
am going to skip
> this trade". When working with cents and going
through many charts,
> it can take a lot of time to pull out the
calculator and do every math
> equation manually.
>
> So that
is the logic behind what I am looking for. I just don't
> understand
fully how to implement it into Amibroker.
>
> --- 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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__._,_.___
Please note that this group is for discussion between users only.
To get support from AmiBroker please send an e-mail directly to
SUPPORT {at} amibroker.com
For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
http://www.amibroker.com/devlog/
For other support material please check also:
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