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On reflection I don't think the information gained is worth the
effort of code.
For estimating 'reward/risk' while looking at charts and 'trying'
different scenarios the studies tooltip is quite efficient.
Try this (around 10-15 secs per test and definitely easier than
reaching for the calculator).
Customise toolbars to add view crosshair as an icon in the format
toolbar.
Select Tools >> Preferences >> Charting and uncheck return to select
mode after drawing.
Turn off snap to grid.
Turn on view crosshair.
Thick coloured line.
Select draw trendline from the drawing toolbar
draw a vertical line from the entry price (say close) to the profits
stop.
use the crosshair to line up the line start/end with the price point.
change colours (optional_
draw a second vertical line from the close to the stop loss.
Hover the mouse over each line (the tooltip will report the % value
of the vertical line).
do as many as you like.
when finished click Edit >> Delete All from the menu bar to clear all
of the studies (drawings).
brian_z
--- In amibroker@xxxxxxxxxxxxxxx, "brian_z111" <brian_z111@xxx> wrote:
>
> > 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@> 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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