Adjustments to Risk-Reward Tool

[3acor]

Hey,

Thanks for the R/R tool.

Would it be possible to have it in a way that it shows the R/R in increments:  R1,R2,R3,R4....

For example, if long at 10$ and stop loss is 9.9$. Risk is 10cents. So the tool will show:
R1(Reward1) at 10.10,
R2 @ 10.20
R3@10.3
...
up until how much the user defines. So the user decides if he wants it to show to R7 or R10...

Could also have a choice to whether the user wants to show the RR in terms of $ or % (10cents or 1% in this above example)

 

This is great as it helps us be more systematic/mechanical knowing when to take profits and not give a lot of profits back
So if I am up 6R, I say that worst case I will take profits if the stocks goes to 5R

Edited March 9, 2021 by 3acor

[tommyjames]

Where is the R/R tool?  I currently use the fib retracement tool for R/R.  See attached...

 

[3acor]

52 minutes ago, tommyjames said:

Where is the R/R tool?  I currently use the fib retracement tool for R/R.  See attached...

 

Thanks a lot for the reply. yea I meant Fib Retracement. But how did you change the values to get those %?

Edited March 9, 2021 by 3acor

[Jerry Medved]

@tommyjames in the new beta, Risk/Reward is a drawing tool

[Jerry Medved]

8 minutes ago, 3acor said:

But how did you change the values to get those %?

SETTINGS / CHARTS / FIBONACCI VALUES - you can specify custom ones there. then once done, when you draw fib retracements on the charts, the new custom values will be available in the parameters for the retracement

[3acor]

Just now, Jerry Medved said:

SETTINGS / CHARTS / FIBONACCI VALUES - you can specify custom ones there. then once done, when you draw fib retracements on the charts, the new custom values will be available in the parameters for the retracement

Oh I see thanks. Damn its in front of me I should've seen it

[tommyjames]

It would be helpful if you were able to add more than 1000%

[3acor]

I know there is "Annotations unique per chart" in SETTINGS but is it also possible to have an option in the parameter box to have a certain annotation like the Fib retracement display on one chart only? 
Reason is I have other annotations that I would like to share across charts but would like to see Fib retracement on one chart only as it looks more clean 

[3acor]

Possible not have Fib. retracement overlap y-axis price?

[Jerry Medved]

No, but you can add more space on the X Axis so there is room between the rightmost candle and the Y axis

[Leason]

With the Risk Reward Tool it is possible to enter a number of items in order to receive a price. My suggestion - to be able to enter a $ value in order to receive the corresponding number of pieces. 

Edited May 28, 2021 by Leason

[dubcanada]

I know it's possible with fibs, but I do believe this has a place, it would be nice to be able to make levels (so say you draw a risk-reward from 13.40 (buy) to 13.20 (stop loss) and 13.60 (target) so a 20 cent risk, it would be nice if it also shows 13.8, 14, 14.2, etc