Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

alexfl

Horizontal Lines for Trade Planning

Recommended Posts

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!

Share this post


Link to post
Share on other sites
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.

Share this post


Link to post
Share on other sites

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;

Share this post


Link to post
Share on other sites
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

Share this post


Link to post
Share on other sites

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;

Share this post


Link to post
Share on other sites

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;

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • ELV Elevance Health stock, watch for an upside gap breakout at https://stockconsultant.com/?ELV
    • ORLY OReilly Automotive stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?ORLY
    • Date: 28th March 2025.   Market Selloff Deepens as Tariff Concerns Weigh on Investors     Global stock markets extended their losing streak for a third day as concerns over looming US tariffs and an escalating trade war dampened investor sentiment. The flight to safety saw gold prices surge to a record high, underscoring growing risk aversion. Stock Selloff Intensifies The MSCI World Index recorded its longest losing streak in a month, while Asian equities saw their sharpest decline since late February. US and European stock futures also signalled potential weakness, while cryptocurrency markets retreated and bond yields edged lower. Investors are scaling back their exposure ahead of President Donald Trump’s expected announcement of ‘reciprocal tariffs’ on April 2. His latest move to impose a 25% levy on all foreign-made automobiles has sparked fresh concerns over inflation and economic growth, prompting traders to reassess their strategies. Investor Strategies Shift Market experts are adjusting their portfolios in anticipation of heightened volatility. ‘It’s impossible to predict Trump’s next move,’ said Xin-Yao Ng of Aberdeen Investments. ‘Our focus is on companies that are less vulnerable to tariff policies while taking advantage of market dips to find value opportunities.’ Yield Curve Signals Economic Concerns In the bond market, the spread between 30-year and 5-year US Treasury yields widened to its highest level since early 2022. Investors are bracing for potential Federal Reserve rate cuts if economic growth slows further. Long-term Treasury yields hit a one-month peak as inflation risks tied to tariffs spurred demand for higher-yielding assets. Boston Fed President Susan Collins noted that while tariffs may contribute to short-term price increases, their long-term effects remain uncertain. Gold Hits Record High as Safe-Haven Demand Rises Amid market turbulence, gold prices soared 0.7% on Friday, reaching an all-time high of $3,077.60 per ounce. Major banks have raised their price targets for the precious metal, with Goldman Sachs now forecasting gold to hit $3,300 per ounce by year-end. Looking Ahead As investors digest economic data showing US growth acceleration in Q4, attention will turn to Friday’s release of the personal consumption expenditures (PCE) price index—the Federal Reserve’s preferred inflation measure. This data will be critical in shaping expectations for future Fed policy moves. With markets on edge and trade tensions escalating, investors will closely monitor upcoming developments, particularly Trump’s tariff announcement next week, which could further dictate market direction.   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 Leveraged 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.
    • Crypto hype is everywhere since it also making new riches as well, i however trade crypto little as compared to other forex trading pairs.
    • The ewallets can be instant withdrawals like skrill etc or they can also pay through crypto but not tested their crypto withdrawals so far.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.