Pinescript Risk Reward boxes + Custom 'Time Elapsed' Markers

7 maj 2023

Using Pinescript to create custom Risk Reward Ratio (RRR) boxes with custom vertical time markers to help traders stay mindful of how long they've been in a trade.

//Usage:
-Add indicator to chart and you'll be prompted to click three times:
-- 1: Choose time (clicking last bar will mark entry as current candle's open).
-- 2: Click BOX TOP of RRR box on chart (long or short is toggled later).
-- 3: Click BOX BOTTOM of RRR box on chart (long or short is toggled later).
- then toggle Long or short in the dialog box.
-toggle on/off vertical time line markers (as reminder of how long you've been sat in your trade).
-User input choice of time line marker spacings (in minutes).

//Notes:
-Percentage reward and percentage risk are displayed in each of the risk reward boxes. Risk-Reward ratio is also displayed in the upper box.
-Bars to extend the RRR box to the right is also a custom user input.
-Note the 'entry' of the trade will always be the open of the candle you click on (the first click on loading the indicator).
-You can drag the vertical entry time and the horizontal box-top and box-bottom times dynamically, as you like, as trade progresses.

//Use-Case:
-I wanted a RRR box which gave me custom vertical time markers to keep me mindful of overstaying my welcome in a trade that likely was running out of steam and wasn't likely to go my way. Forcing me to stay nimble. I have found in daytrading that if a trade doesn't go your way promptly, it's often not a good one to hold.

7 maj 2023

Informacje o Wersji

-Added formatting options: vertical & horizontal text position, text size, dialog groups

12 sie 2023

Informacje o Wersji

-Added option to simply plot 'floating' RR box where entry resets on each bar (default is OFF)

12 sie 2023

Informacje o Wersji

-fixed error in code
-added price distance label from entry to target; entry to stop
-NB: if after some time boxes are not displaying or mis-displaying, then price has travelled beyond the box and you need to reset points. Click three dots on indicator display line >> 'reset points'. Otherwise, simply drag box top and box bottom to change TP/SL.

12 sie 2023

Informacje o Wersji

-automatically show price ranges in pips for Forex, and in $ for Futures/Crypto

12 sie 2023

Informacje o Wersji

-change code to fix negative numbers when box is flipped.
-update tooltips.