Pinescript Risk Reward boxes + Custom 'Time Elapsed' Markers

2023年5月7日

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.

2023年5月7日

發行說明

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

2023年8月12日

發行說明

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

2023年8月12日

發行說明

-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.

2023年8月12日

發行說明

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

2023年8月12日

發行說明

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