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Enhancement to the Risk/Reward drawing tool

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  • mnk91998
    started a topic Enhancement to the Risk/Reward drawing tool

    Enhancement to the Risk/Reward drawing tool

    Enhancement to the risk/reward drawing tool. Position sizing tool: Need a Ninjatrader add on tool that can calculate position size on a potential trade set up. The drawing tool that uses the account you select and a pre-defined risk (percent of account, dollar per trade, it should also take into account the other trades you have on). Then determine number of (shares for stock, contracts for futures or pips for forex) to trade. The drawing tool should be able to choose one target or as many multiple targets as the user wants. The drawing tool should also be able to have one or more(as many as the user wants)built in target levels (2 to 1, 3 to 1, 4 to 1, 5 to 1 and so on. Maybe like the fib drawing tool, where you can click on the different fib levels you want to see/use). The user should also be able to adjust the entry, stop and targets on the chart once it is drawn. The Drawing tool should then adjust the position size and also recalculate the risk/reward ratios. Maybe a data box that shows the position size and risk/reward ratio. Another way for it to display is at each line. The entry line has the entry price and position size. The stop line has the stop price and size of the risk in dollar or (shares/contract/pips) and the target lines show the target price and the reward ratio (1 to 1, 2 to 1, 3 to 1 and so on).

  • esbee
    replied
    Excellent suggestions!

    Leave a comment:


  • NinjaTrader_PatrickH
    replied
    Hello mnk91998,

    Thank you for your patience.

    Your suggested feature has been assigned the internal tracking id SFT-1202.

    Please let me know if I may be of further assistance.

    Leave a comment:


  • NinjaTrader_PatrickH
    replied
    Hello mnk91998,

    Thank you for your post.

    I will forward your suggestion to our development team.

    Such a Drawing Tool could be built in NinjaScript if you were interested in custom development yourself please let me know. I can also have our affiliate NinjaTrader Ecosystem follow up here with information on NinjaScript Consultants.

    Leave a comment:

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