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How can I show the distance from current price to horizontal line?

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    How can I show the distance from current price to horizontal line?

    Hi, I hope this is the correct forum for my question. I am looking for a way to display the distance in ticks between the current price and a Line or Horizontal Line. What I need to see in real time is the distance from current price to the line I have drawn on the chart (simple straight horizontal line that represents the level where I will put my stop loss after opening a trade).

    Until now I have used several predefined ATM Strategys to put in my order with correct position size. So if I want to open a trade with 6 ticks SL the ATM will automatically use the (predefined) correct position size for my risk parameters. The problem is that I don't have time to choose the correct ATM if price is moving fast. So I want to input my position size now manually (I know how many contracts to trade for any given stop loss distance) and then manually move my stop loss after entering the trade. This would be way faster for me. But I need to see the distance of the level that will become my stop loss to choose the correct position size. I am unfortunately to slow to do this quick enough in my head.

    Sorry for the complicate description. I hope someone knows an indicator or even a built-in function that can do what I need. Thank you!

    #2
    Hi ppprager, thanks for posting. To get complete customization you would need to make a custom script to do a task like this. One example that is relevant is the advanced risk reward indicator, see the NinjaTrader Ecosystem page for the download link:

    This is a port of the NinjaTrader 7 AdvancedRiskReward.v3 indicator. This indicator helps you define your entry, stop and target (1 or 3) visually on the chart with the help of horizontal lines, calculates your potential P/L ,unrealized P/L,Risk/Reward ratio and contracts sizing per account size. Once started click on the chart 3 times there […]


    There is also a "Risk Reward" drawing tool that comes with the platform by default.

    Kind regards,
    -ChrisL

    Disclaimer:
    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.​
    Chris L.NinjaTrader Customer Service

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