Advanced Risk Reward Indicator

[tomturn]

Hello, Jim. Question for you regarding this tool. What do the green and red (long & short respective) denote, just above and below the entry line? I have the indicator set to non-interactive mode, as I size my risk as a function of a % account value ($ risk is always the same, size is determined by distance between stop and entry). I had suspected it might be the aggregated $ risk associated with each contract taken, but when I crunched the #s, it didn't add up. Is commission factored in?

Appreciate your candid feedback either way, Jim.

Thanks
Tom

[NinjaTrader_ChelseaB]

Hello Tom,

If you are referring to the Advanced Risk Reward Indicator on the User App Share linked below, keep in mind that Jim did not write this indicator or design the logic.

https://ninjatraderecosystem.com/user-app-share-download/advanced-risk-reward-indicator/

This was originally developed by bassam for NinjaTrader 7 and was ported to NinjaTrader 8 by NinjaTrader_Jim.

https://ninjatraderecosystem.com/user-app-share-download/advanced-reward-risk-indicator/

When NinjaTrader 8 was first released in Beta, we ported a few popular scripts to get the ball rolling. This involves creating a new empty NT8 script, copying and pasting the logic from the NT7 script, and correcting any code breaking changes and compile errors. No need to understand the logic.

I would highly recommend reaching out to the original author for details about how the script was designed.

That said, peaking at the script, I am seeing these are being rendered on 1294, 1302 and 1322 when targetLines is Three.
The coordinates appear to be calculated from XCooficient - (VerticalLineShift+BetweenLines); on lines 1290, 1298, and 1309.

[Triple_M]

Hello,

i wanted to catch up with this issue, i got the same problem as Tom this year in June. The tool is one of the most important in trading, that you see immediately and easy what your target and your stop "does mean" in terms of money! And nevertheless it shows always the Risk Return Ration of the plan. Many times the plan has to be adjusted shortly, you have to answer then, if for example I close a trade, what does it mean in terms of my RR ratio. I really dont understand why such a tool is not included in NT generally. Well ...... this tool, written by bassam and adjusted to NT8 by Jim, ....however i don´t care about the history. But it is not doing what it should do, in my opinion.

Have a look at the picture! There we have 4 contracts long MES, the Indicator shows a number (169) to the stop and (456) to the target. What i wanted to see is, think that is the same question Tom had, that the (169) ....shows the amount of risk in USD for these 4 contracts. And whats also important, if i buy or sell some more contracts what does this mean in terms of amounts for the risk and reward. The settings are at "interactive" in my opinion it means, that it should adapt the change of contracts, but it does not. The numbers don´t change.

If, the code is not doing what i mention, i would like to adjust the code, that it is possible. I had a look at the code, and it it not really small, there are 2137 lines of code. Just to find out where are the sections to adjust the code would be helpful. If Jim is reading this, ..... appreciate any help.

Regards
Peter

[NinjaTrader_ChelseaB]

Hello Peter,

I'm not certain what the original author was intending with this rendered text. I would highly recommend reaching out to the original vendor to request any changes.

That said, you could try making a copy of the script and modifying it to your needs.

By commenting out all of the calls to DrawString() and uncommenting one-by-one I was able to identify the (169) text as LowerSplitTagTxt on line 1270.

string LowerSplitTagTxt ="( "+(PotentialLoss*((CalcBasedOnUser)? userscontracts:1)).ToString("N0")+" )";

You may be able to modify this line or the lines calculating PotentialLoss or usercontracts.
It looks like userscontracts is set to 1 and is never set to another value. Perhaps the Contracts variable should be used instead of the usercontracts variable?

You can also contact a professional NinjaScript Consultant who would be eager to create or modify this script at your request or assist you with your script. The NinjaTrader Ecosystem has affiliate contacts who provide educational as well as consulting services. Please let me know if you would like a list of affiliate consultants who would be happy to create this script or any others at your request or provide one on one educational services.

[Triple_M]

So far the only reasonable existing indicator is from ninzaco. Their risk reward meter, works more or less properly. But to get somebody there to talk and to amend is quite demanding. They deliver mass products, fancy style but weird, dont know where they originated from.

The most important is, that the tool must update the position risk reward if you change the position, if you reduce or increase the position size. And in two ways, to answer the question, if i want to have a 3% or whatever risk per trade, considering the open position, considering the change of the position size, where i have to amend my stop loss and my target to reach my goals. That would be a really smart tool, ......but doesnt exist yet unfortunately.

[NTRR.net]

Hey everyone,

If you looking for an exceptional risk reward tool for NinjaTrader, I have something that might be just what you need.

You should definitely check out NTRR Risk Reward Tool, an Authorized NinjaTrader Vendor.

We've developed an advanced add-on that offers a range of powerful features:

• Auto Calculation: Automatically calculates the number of contracts or lots needed based on your specified currency risk amount per trade.
• Chart Trader Integration: Automatically updates your chart trader with the correct contract amounts.
• ATM Strategy Updates: Adjusts the NTRR ATM Strategy based on your stop loss and defined targets.
• One-Click Trading: Allows you to submit smart entry orders with a single click, based on your drawn direction.
• Full Customization: Customize colors, opacity, line width, and more to suit your trading style.
• Stop Loss Auto Trail: Protect your profits by automatically adjusting stop loss levels as the market moves in your favor.

This tool is designed to enhance your trading efficiency, improve risk management, and help you achieve better results. It's perfect for both new and experienced traders looking to take their trading to the next level.

Feel free to check it out and let me know if you have any questions!

Happy trading!