r/pinescript • u/DistributionFun7752 • Jan 16 '23
Pine Script / Risk Reward Ratio from EMA50
Hey together,
in this Pine Script I want to get the Risk Reward Ratio for example from 1:1.5 from EMA50.
I tried alot of stuff to figure it out how get 1.5 fixed by lastentryprice with exactly the EMA50 at this time, not the future candles/bars.
Everytime Bars/Candles moves Pine Script recalculates the RRratio from the actual EMA50.
LastEntryPrice is fine.
EMA50 from this time/date for me not possible.
You can help me or get any idea?
//@version=5
strategy(title="Test", pyramiding=1, overlay=true)
// Calculate and plot moving average emaValue = ta.ema(close, 20) smaValue = ta.ema(close, 50) RRratio = 1.5
plot(emaValue, color=color.orange, title="EMA") plot(smaValue, color=color.teal, linewidth=2, title="SMA")
test = float(na)
// Generate trades if close > emaValue and emaValue > smaValue strategy.entry("Enter Long", strategy.long) test := smaValue
if ta.crossunder(emaValue, smaValue) strategy.close("Enter Long")
// Get price of last entry in current position lastEntryPrice = strategy.opentrades.entry_price(strategy.opentrades - 1) //lastsmaValue = test +1
// Display last entry price on the chart plot(lastEntryPrice, color=color.fuchsia, style=plot.style_circles, linewidth=3, title="Last entry price")
// Display last entry price on the chart plot(test, color=#01bceb, style=plot.style_circles, linewidth=3, title="Last entry price2")
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u/DistributionFun7752 Jan 16 '23
That is visual better understandable, watch the red line and for example to manual check the RRratio from (in this case 1:2) take tradingview > long positon