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alexfl

Horizontal Lines for Trade Planning

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I am really hoping that someone who is good at coding can help.

I use horizontal lines to plan trades in tradestation. At present I have to laboriously mark all these manually.

 

My dream indicator would:

 

1. Place a horizontal line labelled ENTRY and give the price with option of different colours

2. Place a horizontal line below labelled STOP with the price & No of pips from entry, in red; Option to set x points from entry

3. Place 3 horizontal lines labelled TARGET 1, TARGET 2 and TARGET 3 in green also with prices & No of pips from entry in label ; option to set x, y and z points from entry

 

There would have to be 2 versions one for longs & one for shorts.

Ideally this indicator could be enabled or disabled with a key shortcut.

A final refinement could be placing text on chart of Risk:Reward ratio as the ratio Entry:Stop versus Entry to 1st Target

 

If someone could help I would be very grateful. Thanks!

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I am really hoping that someone who is good at coding can help.

I use horizontal lines to plan trades in tradestation. At present I have to laboriously mark all these manually.

 

My dream indicator would:

 

1. Place a horizontal line labelled ENTRY and give the price with option of different colours

2. Place a horizontal line below labelled STOP with the price & No of pips from entry, in red; Option to set x points from entry

3. Place 3 horizontal lines labelled TARGET 1, TARGET 2 and TARGET 3 in green also with prices & No of pips from entry in label ; option to set x, y and z points from entry

 

There would have to be 2 versions one for longs & one for shorts.

Ideally this indicator could be enabled or disabled with a key shortcut.

A final refinement could be placing text on chart of Risk:Reward ratio as the ratio Entry:Stop versus Entry to 1st Target

 

If someone could help I would be very grateful. Thanks!

 

it is not difficult to code,

it would take some time though.

you also need to write a clear specification of what/how you want the lines drawn.

(the blurb above is not enough)

 

there are many codes on this forum which you can "borrow" and adapt to your use.

look under the indicators forum for examples.

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Change the direction input from a positive to negative number to enable sellshort mode.

 

input: direction(1), ePrice(1365), trgt1(4), trgt2(8), trgt3(16), stp(6);
var: id(0), t1price(0), t2price(0), t3price(0), sPrice(0), tics(minmove/pricescale), initialized(false);

once begin
   if direction>0 then begin
       t1price=ePrice+trgt1*tics;  t2price=ePrice+trgt2*tics;  t3price=ePrice+trgt3*tics;  sPrice=ePrice-stp*tics;
       id=tl_new(d,t,ePrice,d,t,ePrice);  tl_setextright(id,true);  tl_setcolor(id,green);
       id=tl_new(d,t,t1price,d,t,t1price);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);
       id=tl_new(d,t,t2price,d,t,t2price);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);
       id=tl_new(d,t,t3price,d,t,t3price);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);
       id=tl_new(d,t,sPrice,d,t,sPrice);  tl_setextright(id,true);  tl_setcolor(id,darkred);
   end else if direction<0 then begin
       t1price=ePrice-trgt1*tics;  t2price=ePrice-trgt2*tics;  t3price=ePrice-trgt3*tics;  sPrice=ePrice+stp*tics;
       id=tl_new(d,t,ePrice,d,t,ePrice);  tl_setextright(id,true);  tl_setcolor(id,red);
       id=tl_new(d,t,t1price,d,t,t1price);  tl_setextright(id,true);  tl_setcolor(id,darkred);
       id=tl_new(d,t,t2price,d,t,t2price);  tl_setextright(id,true);  tl_setcolor(id,darkred);
       id=tl_new(d,t,t3price,d,t,t3price);  tl_setextright(id,true);  tl_setcolor(id,darkred);
       id=tl_new(d,t,sPrice,d,t,sPrice);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);
   end;
end;

if lastbaronchart and initialized=false then begin
   if direction>0 then begin
       id=text_new(d,t,ePrice,"      buy "+numtostr(ePrice,4));  text_setcolor(id,green);  text_setstyle(id,0,0);
       id=text_new(d,t,t1price,"      t1 "+numtostr(t1price,4));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
       id=text_new(d,t,t2price,"      t2 "+numtostr(t2price,4));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
       id=text_new(d,t,t3price,"      t3 "+numtostr(t3price,4));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
       id=text_new(d,t,sPrice,"      stop "+numtostr(sPrice,4));  text_setcolor(id,darkred);  text_setstyle(id,0,1);
   end else if direction<0 then begin
       id=text_new(d,t,ePrice,"      ss "+numtostr(ePrice,4));  text_setcolor(id,red);   text_setstyle(id,0,1);
       id=text_new(d,t,t1price,"      t1 "+numtostr(t1price,4));  text_setcolor(id,darkred);  text_setstyle(id,0,1);
       id=text_new(d,t,t2price,"      t2 "+numtostr(t2price,4));  text_setcolor(id,darkred);  text_setstyle(id,0,1);
       id=text_new(d,t,t3price,"      t3 "+numtostr(t3price,4));  text_setcolor(id,darkred);  text_setstyle(id,0,1);
       id=text_new(d,t,sPrice,"      stop "+numtostr(sPrice,4));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
   end;
   initialized=true;
end;

if barstatus(1)=2 and initialized then begin
   text_setlocation(id-4,d,t,ePrice);
   text_setlocation(id-3,d,t,t1price);
   text_setlocation(id-2,d,t,t2price);
   text_setlocation(id-1,d,t,t3price);
   text_setlocation(id,d,t,sPrice);
end;

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Change the direction input from a positive to negative number to enable sellshort mode.

 

input: direction(1), ePrice(1365), trgt1(4), trgt2(8), trgt3(16), stp(6);
var: id(0), t1price(0), t2price(0), t3price(0), sPrice(0), tics(minmove/pricescale), initialized(false);

once begin
   if direction>0 then begin
       t1price=ePrice+trgt1*tics;  t2price=ePrice+trgt2*tics;  t3price=ePrice+trgt3*tics;  sPrice=ePrice-stp*tics;
       id=tl_new(d,t,ePrice,d,t,ePrice);  tl_setextright(id,true);  tl_setcolor(id,green);
       id=tl_new(d,t,t1price,d,t,t1price);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);
       id=tl_new(d,t,t2price,d,t,t2price);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);
       id=tl_new(d,t,t3price,d,t,t3price);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);
       id=tl_new(d,t,sPrice,d,t,sPrice);  tl_setextright(id,true);  tl_setcolor(id,darkred);
   end else if direction<0 then begin
       t1price=ePrice-trgt1*tics;  t2price=ePrice-trgt2*tics;  t3price=ePrice-trgt3*tics;  sPrice=ePrice+stp*tics;
       id=tl_new(d,t,ePrice,d,t,ePrice);  tl_setextright(id,true);  tl_setcolor(id,red);
       id=tl_new(d,t,t1price,d,t,t1price);  tl_setextright(id,true);  tl_setcolor(id,darkred);
       id=tl_new(d,t,t2price,d,t,t2price);  tl_setextright(id,true);  tl_setcolor(id,darkred);
       id=tl_new(d,t,t3price,d,t,t3price);  tl_setextright(id,true);  tl_setcolor(id,darkred);
       id=tl_new(d,t,sPrice,d,t,sPrice);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);
   end;
end;

if lastbaronchart and initialized=false then begin
   if direction>0 then begin
       id=text_new(d,t,ePrice,"      buy "+numtostr(ePrice,4));  text_setcolor(id,green);  text_setstyle(id,0,0);
       id=text_new(d,t,t1price,"      t1 "+numtostr(t1price,4));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
       id=text_new(d,t,t2price,"      t2 "+numtostr(t2price,4));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
       id=text_new(d,t,t3price,"      t3 "+numtostr(t3price,4));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
       id=text_new(d,t,sPrice,"      stop "+numtostr(sPrice,4));  text_setcolor(id,darkred);  text_setstyle(id,0,1);
   end else if direction<0 then begin
       id=text_new(d,t,ePrice,"      ss "+numtostr(ePrice,4));  text_setcolor(id,red);   text_setstyle(id,0,1);
       id=text_new(d,t,t1price,"      t1 "+numtostr(t1price,4));  text_setcolor(id,darkred);  text_setstyle(id,0,1);
       id=text_new(d,t,t2price,"      t2 "+numtostr(t2price,4));  text_setcolor(id,darkred);  text_setstyle(id,0,1);
       id=text_new(d,t,t3price,"      t3 "+numtostr(t3price,4));  text_setcolor(id,darkred);  text_setstyle(id,0,1);
       id=text_new(d,t,sPrice,"      stop "+numtostr(sPrice,4));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
   end;
   initialized=true;
end;

if barstatus(1)=2 and initialized then begin
   text_setlocation(id-4,d,t,ePrice);
   text_setlocation(id-3,d,t,t1price);
   text_setlocation(id-2,d,t,t2price);
   text_setlocation(id-1,d,t,t3price);
   text_setlocation(id,d,t,sPrice);
end;

 

onesmith

You are one smart cookie

Thankyou

bobc

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Thank You Onesmith :thumbs up:: that is exactly what I had in mind !!! How wonderful to be able to code like that. It is incredibly useful for trade planning as it is. However, if you feel like making a further mod it would be lovely to be able to alter the style & colours of the lines! :idea: It would also be fantastic to change the lines value by single click on the line and move it to the best locations without returning to the indicator properties. Thank you once Again

 

 

 

Change the direction input from a positive to negative number to enable sellshort mode.

 

input: direction(1), ePrice(1365), trgt1(4), trgt2(8), trgt3(16), stp(6);
var: id(0), t1price(0), t2price(0), t3price(0), sPrice(0), tics(minmove/pricescale), initialized(false);

once begin
   if direction>0 then begin
       t1price=ePrice+trgt1*tics;  t2price=ePrice+trgt2*tics;  t3price=ePrice+trgt3*tics;  sPrice=ePrice-stp*tics;
       id=tl_new(d,t,ePrice,d,t,ePrice);  tl_setextright(id,true);  tl_setcolor(id,green);
       id=tl_new(d,t,t1price,d,t,t1price);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);
       id=tl_new(d,t,t2price,d,t,t2price);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);
       id=tl_new(d,t,t3price,d,t,t3price);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);
       id=tl_new(d,t,sPrice,d,t,sPrice);  tl_setextright(id,true);  tl_setcolor(id,darkred);
   end else if direction<0 then begin
       t1price=ePrice-trgt1*tics;  t2price=ePrice-trgt2*tics;  t3price=ePrice-trgt3*tics;  sPrice=ePrice+stp*tics;
       id=tl_new(d,t,ePrice,d,t,ePrice);  tl_setextright(id,true);  tl_setcolor(id,red);
       id=tl_new(d,t,t1price,d,t,t1price);  tl_setextright(id,true);  tl_setcolor(id,darkred);
       id=tl_new(d,t,t2price,d,t,t2price);  tl_setextright(id,true);  tl_setcolor(id,darkred);
       id=tl_new(d,t,t3price,d,t,t3price);  tl_setextright(id,true);  tl_setcolor(id,darkred);
       id=tl_new(d,t,sPrice,d,t,sPrice);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);
   end;
end;

if lastbaronchart and initialized=false then begin
   if direction>0 then begin
       id=text_new(d,t,ePrice,"      buy "+numtostr(ePrice,4));  text_setcolor(id,green);  text_setstyle(id,0,0);
       id=text_new(d,t,t1price,"      t1 "+numtostr(t1price,4));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
       id=text_new(d,t,t2price,"      t2 "+numtostr(t2price,4));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
       id=text_new(d,t,t3price,"      t3 "+numtostr(t3price,4));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
       id=text_new(d,t,sPrice,"      stop "+numtostr(sPrice,4));  text_setcolor(id,darkred);  text_setstyle(id,0,1);
   end else if direction<0 then begin
       id=text_new(d,t,ePrice,"      ss "+numtostr(ePrice,4));  text_setcolor(id,red);   text_setstyle(id,0,1);
       id=text_new(d,t,t1price,"      t1 "+numtostr(t1price,4));  text_setcolor(id,darkred);  text_setstyle(id,0,1);
       id=text_new(d,t,t2price,"      t2 "+numtostr(t2price,4));  text_setcolor(id,darkred);  text_setstyle(id,0,1);
       id=text_new(d,t,t3price,"      t3 "+numtostr(t3price,4));  text_setcolor(id,darkred);  text_setstyle(id,0,1);
       id=text_new(d,t,sPrice,"      stop "+numtostr(sPrice,4));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
   end;
   initialized=true;
end;

if barstatus(1)=2 and initialized then begin
   text_setlocation(id-4,d,t,ePrice);
   text_setlocation(id-3,d,t,t1price);
   text_setlocation(id-2,d,t,t2price);
   text_setlocation(id-1,d,t,t3price);
   text_setlocation(id,d,t,sPrice);
end;

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I didn't use inputs in this version because I change their values from within the editor. That updates everything I'm looking at without going through the menus. The inputs are still separated on the first line so that can easily be changed back. I limit the text display to 2 decimals so if you're trading pips increase numtostr(price,decimals) or make it an input.

 

var: dir(1), ePrice(1356), trgt1(4), trgt2(8), trgt3(16), stp(6);
var: id(0), t1price(0), t2price(0), t3price(0), sPrice(0), tic(minmove/pricescale), initialized(false);

if initialized then begin
   tl_setend(id-4,d,t,ePrice);   tl_setbegin(id-4,d,t,ePrice);
   tl_setend(id-3,d,t,t1price);  tl_setbegin(id-3,d,t,t1price);
   tl_setend(id-2,d,t,t2price);  tl_setbegin(id-2,d,t,t2price);
   tl_setend(id-1,d,t,t3price);  tl_setbegin(id-1,d,t,t3price);
   tl_setend(id,d,t,sPrice);     tl_setbegin(id,d,t,sPrice);

   text_setlocation(id-4,d,t,ePrice);
   text_setlocation(id-3,d,t,t1price);
   text_setlocation(id-2,d,t,t2price);
   text_setlocation(id-1,d,t,t3price);
   text_setlocation(id,d,t,sPrice);
end else begin
   if dir>0 then begin
       t1price=ePrice+trgt1*tic;  t2price=ePrice+trgt2*tic;  t3price=ePrice+trgt3*tic;  sPrice=ePrice-stp*tic;
       id=tl_new(d,t,ePrice,d,t,ePrice);    tl_setextright(id,true);  tl_setcolor(id,green);
       id=tl_new(d,t,t1price,d,t,t1price);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);  tl_setstyle(id,2);
       id=tl_new(d,t,t2price,d,t,t2price);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);  tl_setstyle(id,2);
       id=tl_new(d,t,t3price,d,t,t3price);  tl_setextright(id,true);  tl_setcolor(id,darkgreen);  tl_setstyle(id,2);
       id=tl_new(d,t,sPrice,d,t,sPrice);    tl_setextright(id,true);  tl_setcolor(id,darkred);    tl_setstyle(id,2);

       id=text_new(d,t,ePrice,"              "+numtostr(ePrice,2));    text_setcolor(id,green);      text_setstyle(id,0,0);
       id=text_new(d,t,t1price,"              "+numtostr(t1price,2));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
       id=text_new(d,t,t2price,"              "+numtostr(t2price,2));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
       id=text_new(d,t,t3price,"              "+numtostr(t3price,2));  text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
       id=text_new(d,t,sPrice,"              "+numtostr(sPrice,2));    text_setcolor(id,darkred);    text_setstyle(id,0,1);
   end else begin
       t1price=ePrice-trgt1*tic;  t2price=ePrice-trgt2*tic;  t3price=ePrice-trgt3*tic;  sPrice=ePrice+stp*tic;
       id=tl_new(d,t,ePrice,d,t,ePrice);    tl_setextright(id,true);  tl_setcolor(id,red);
       id=tl_new(d,t,t1price,d,t,t1price);  tl_setextright(id,true);  tl_setcolor(id,darkred);    tl_setstyle(id,3);
       id=tl_new(d,t,t2price,d,t,t2price);  tl_setextright(id,true);  tl_setcolor(id,darkred);    tl_setstyle(id,3);
       id=tl_new(d,t,t3price,d,t,t3price);  tl_setextright(id,true);  tl_setcolor(id,darkred);    tl_setstyle(id,3);
       id=tl_new(d,t,sPrice,d,t,sPrice);    tl_setextright(id,true);  tl_setcolor(id,darkgreen);  tl_setstyle(id,3);

       id=text_new(d,t,ePrice,"              "+numtostr(ePrice,2));    text_setcolor(id,red);        text_setstyle(id,0,1);
       id=text_new(d,t,t1price,"              "+numtostr(t1price,2));  text_setcolor(id,darkred);    text_setstyle(id,0,1);
       id=text_new(d,t,t2price,"              "+numtostr(t2price,2));  text_setcolor(id,darkred);    text_setstyle(id,0,1);
       id=text_new(d,t,t3price,"              "+numtostr(t3price,2));  text_setcolor(id,darkred);    text_setstyle(id,0,1);
       id=text_new(d,t,sPrice,"              "+numtostr(sPrice,2));    text_setcolor(id,darkgreen);  text_setstyle(id,0,0);
   end;
   initialized=true;
end;

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Thank you for the explanation. This is great on higher time frames. However, I also daytrade with 144t & 512t or 5min & 15min charts. At that level there isn't much time to input numbers etc. It is important to be able to click the lines, move them to good positions in relation to Support & resistance after which:- I still need time to satisfy myself on the merits of the trade R :R etc, place the trade, and take a snagit for my trade log. Also while watching a potential trade setting up, I may need to adjust the lines several times until the situation matures into an actual opportunity. So.... if there is a way of coding this so that I could simply click & move the lines that would be even more amazing!! Thanks for all your help.

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    • Date: 22nd November 2024.   BTC flirts with $100K, Stocks higher, Eurozone PMI signals recession risk.   Asia & European Sessions:   Geopolitical risks are back in the spotlight on fears of escalation in the Ukraine-Russia after Russia reportedly used a new ICBM to retaliate against Ukraine’s use of US and UK made missiles to attack inside Russia. The markets continue to assess the election results as President-elect Trump fills in his cabinet choices, with the key Treasury Secretary spot still open. The Fed’s rate path continues to be debated with a -25 bp December cut seen as 50-50. Earnings season is coming to an end after mixed reports, though AI remains a major driver. Profit taking and rebalancing into year-end are adding to gyrations too. Wall Street rallied, led by the Dow’s 1.06% broadbased pop. The S&P500 advanced 0.53% and the NASDAQ inched up 0.03%. Asian stocks rose after  Nvidia’s rally. Nikkei added 1% to 38,415.32 after the Tokyo inflation data slowed to 2.3% in October from 2.5% in the prior month, reaching its lowest level since January. The rally was also supported by chip-related stocks tracked Nvidia. Overnight-indexed swaps indicate that it’s certain the Reserve Bank of New Zealand will cut its policy rate by 50 basis points on Nov. 27, with a 22% chance of a 75 basis points reduction. European stocks futures climbed even though German Q3 GDP growth revised down to 0.1% q/q from the 0.2% q/q reported initially. Cryptocurrency market has gained approximately $1 trillion since Trump’s victory in the Nov. 5 election. Recent announcement for the SEC boosted cryptos. Chair Gary Gensler will step down on January 20, the day Trump is set to be inaugurated. Gensler has pushed for more protections for crypto investors. MicroStrategy Inc.’s plans to accelerate purchases of the token, and the debut of options on US Bitcoin ETFs also support this rally. Trump’s transition team has begun discussions on the possibility of creating a new White House position focused on digital asset policy.     Financial Markets Performance: The US Dollar recovered overnight and closed at 107.00. Bitcoin currently at 99,300,  flirting with a run toward the 100,000 level. The EURUSD drifts below 1.05, the GBPUSD dips to June’s bottom at 1.2570, while USDJPY rebounded to 154.94. The AUDNZD spiked to 2-year highs amid speculation the RBNZ will cut the official cash rate by more than 50 bps next week. Oil surged 2.12% to $70.46. Gold spiked to 2,697 after escalation alerts between Russia and Ukraine. Heightened geopolitical tensions drove investors toward safe-haven assets. Gold has surged by 30% this year. Haven demand balanced out the pressure from a strong USD following mixed US labor data. Silver rose 0.9% to 31.38, while palladium increased by 0.9% to 1,040.85 per ounce. Platinum remained unchanged. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news. Andria Pichidi HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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    • BMBL Bumble stock watch, pull back to 7.94 support area with high trade quality at https://stockconsultant.com/?BMBL
    • LUMN Lumen Technologies stock watch, pull back to 7.43 support area with bullish indicators at https://stockconsultant.com/?LUMN
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