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monpere
Risk Reward and Position Sizing Indicator
Calculates Risk/Reward and Position Sizing for trade planning using horizontal lines drawn at potential trade Entry, Stop and Target. The indicator will automatically update the risk/reward and position sizing on the fly when you select and drag the Entry, Stop, and Target lines.
Position size and risk/reward are calculated from user input parameters for Trading Account Size, Percent Account Risk per trade, Fixed Dollar Amount per trade, or Fixed Share Sizing.
Press CTRL-ALT to lock the lines to their current prices, now moving one line will move all the other lines together by the same amount, keeping the same ratio between all the lines.
Press CRL-ALT again to unlock the lines.
I've updated this indicator to use a different approach. It now shows daily volume of various contracts months for an instrument. Highlights the contract with the highest volume, if another contract has higher volume then that on the chart. When this happens, then it's time to rollover.
- Make sure you choose an explicit session template for the chart. Do not choose <Use Instrument Settings>
- Make sure at least 3 valid future contract months are defined in your Instrument Manager default instrument list
- Add an optional comma separated list of future contracts for your instrument in 'Contracts List' parameter Ex: "CL 01-12, CL 02-12, CL 03-12". If blank, the next 3 future contracts will be used. These contracts must be defined in your default instruments list
- Add the current contract name to the parameter 'Current Contract'. If blank, the current chart contract will be used.
The indicator requires that your broker sends daily volume data as a separate message. I use it with Mirus and Interactive Brokers. I don't know if all brokers do this.
Warning:
This indicator uses un-supported code, namely using variables in the Add() method. This may have unpredictable results in NT behavior, like a frozen chart. I have put in code to try to prevent this, and tested successfully with various instruments. I can't guarantee this for every instrument and every configuration, so please test in your environment before using live.
November 26th, 2016 11:38 PM Jaba I'm not the author of this indicator but you can find the fix in this post: https://nexusfi.com/elite-circle/1261-want-yo
November 2nd, 2016 12:05 PM rcsingleton The day has come. www.barchart.com has changed the format! Can the author make the required changes to this indicator?
Thanks much!
April 13th, 2014 10:06 AM sudhirc Really Good.
Thank you.
January 26th, 2014 10:23 PM Chuck T I have used this little indicator so frequently that I felt compelled to come back and say a big THANK YOU! I had downlo
aded it months ago and couldn't find it at first, but after about two hours of searching BMT I found it again. So here i
am to thank you for this little gem that saves me so much time and prevents contract rollover headaches