Need a Risk to Reward Indicator for OpenEcry

[GPS 10]

Does anyone have or can make a risk to reward indicator for OpenEcry platform. I like the one that is used on tradingview.com but I dont want to pay a monthly fee just to use an indicator.

 

Thanks any help would be apprreciated

[Spikeygirl 10]

Create one in excel. You can use Risk/Reward Ratio Definition | Investopedia

definition to assist you:

 

Let's say a trader purchases 100 shares of XYZ Company at $20 and places a stop-loss order at $15 to ensure that her losses will not exceed $500.

 

Let's also assume that this trader believes that the price of XYZ will reach $30 in the next few months. In this case, the trader is willing to risk $5 per share to make an expected return of $10 per share after closing her position.

 

Since the trader stands to make double the amount that she has risked, she would be said to have a 1:2 risk/reward ratio on that particular trade. The optimal risk/reward ratio differs widely among trading strategies. Some trial and error is usually required to determine which ratio is best for a given trading strategy.

 

OR ... if you know code or are willing to pay someone to code you can send them wikis' definition and you can have it built or build it. Personally I would use option one to ensure that it works .... because assumptions sure can cost you a pretty penny.

 

Hope this helps!

Spikeygirl