Tweet
I am looking for risk to reward analysis tool using FIB projections.
I do not how i would program something like this, maybe someone can point me to an existing efs or give me some of some kind of help.
Simply:
- Using FIB 0% - 100% on any swing high to low.
- Then using the fib 1.618 as the target price projection.
- The stop will be calculated as the fib 0% minus another fib 0.25% projection backwards.
This is just simple use of fib tool with a negative backward fib projection for stop loss.
However, i would like to use this on the chart as i use FIB now but it has to automatically to comute the number of points im risking and number of points reward (obviously once i have drawn the fib lines).
Simply then a command box will show me the list of figures and the simple computed Risk : Reward.
I have made this as a clear as i can but finding it very difficult to even start to program this.
I do not how i would program something like this, maybe someone can point me to an existing efs or give me some of some kind of help.
Simply:
- Using FIB 0% - 100% on any swing high to low.
- Then using the fib 1.618 as the target price projection.
- The stop will be calculated as the fib 0% minus another fib 0.25% projection backwards.
This is just simple use of fib tool with a negative backward fib projection for stop loss.
However, i would like to use this on the chart as i use FIB now but it has to automatically to comute the number of points im risking and number of points reward (obviously once i have drawn the fib lines).
Simply then a command box will show me the list of figures and the simple computed Risk : Reward.
I have made this as a clear as i can but finding it very difficult to even start to program this.