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> 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.
Yes, it does take time to do that.
It is not something I want to do a lot because usually I am
interested in comparing different stops etc and I want to compare
them over a large number of examples. So for me it is not important.
However I understand what you want to do and I may have been wrong it
might not be so easy to do after all.
The problem is if you want to reference points on the chart
dynamically i.e. you are putting the referenced line at a different
place on the chart each time it isn't very practical (it makes a lot
more sense if you are using a consistent stop with a consistent buy
point).
We can reference unique lines using the Study() and GetChartID()
functions but as I understand it they work on a chart by chart basis
so it would take longer to write that code than it would to use the
calculator.
Possibly the new cursor function will help.
I will have to download the latest AB version and learn about that
function first.
If I find it can be used for what you want I will post again later.
In the meantime let's see if anyone else can help.
brian_z
--- In amibroker@xxxxxxxxxxxxxxx, "kujax3si" <kujax3si@xxx> wrote:
>
> 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@> 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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