Very Basic - Calculate Stop Loss $$ Value & Display on Screen

[grimes12]

I need very very basic indicator

"To Calculate Potential Loss Value in $$ if Stop Loss Hits"

For Example, If I buy long 5 emini contracts with average price of $4000.00 and set my Stop Loss at $3999.00, then

ie. Formula Will be = Price per Tick * (Current Trade Price - Stop Loss Price) multiply by # of Contracts

Potential Stop Loss Value will be = $12.5 * (4000.00-3999.00) * 5 = 12.5 x 4 ticks x 5 = $250

How to put this in a formula and make an indicator to display on the Chart? I can understand technical steps but am not a programmer. So if you can reply with little patience it will help.

Will the displayed value automatically change every time I am adjusting stop loss up/down or changing amount of contracts (buying more or selling)?

[NinjaTrader_ChrisL]

Hi grimes12, thanks for posting. Unfortunately, the support team will not be able to create custom strategies. Our colleague has made a similar example though, see here for the Advanced Risk/Reward indicator:

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

There is also a basic Risk Reward drawing tool built into the platform by default.

Kind regards.

The NinjaTrader Ecosystem website is for educational and informational purposes only and should not be considered a solicitation to buy or sell a futures contract or make any other type of investment decision. The add-ons listed on this website are not to be considered a recommendation and it is the reader's responsibility to evaluate any product, service, or company. NinjaTrader Ecosystem LLC is not responsible for the accuracy or content of any product, service or company linked to on this website.