Signals potential and risk reward of trend
The SPR of trend indicator does the following:
- (S) - shows signals,
- (P) - shows signals potential,
- (R) - calculates risk/reward.
The indicator defines potential price movement. It works by closed candles and does not repaint!
The indicator provides a stat block on its own signals.
The stats are based on a maximum price movement (after a signal appears on a closed candle) from the Open price to:
- The price reaching the StopLoss level. In this case, you can use a fixed StopLoss in points or (as an example) - the Parabolic SAR indicator (if SAR is not displayed on an arrow candle, the indicator uses the High/Low of the candle).
- The opposite signal. Option - useOppositSignalAsCloseAchieve.
- If StopLoss and Opposite signal conditions are not met, a signal (order) is considered open. In this case, the indicator takes the maximum price movement after this signal into account, though it is not displayed on the chart. The maximum movement after the signal is graphically displayed only when the conditions listed in pp. 1 and 2 are met.
The screenshot shows that the stat block is located in the bottom right corner.
- S - amount of detected buy and sell signals.
- P - movement potential after the signal. It is calculated as an average value of the maximum price movement of all buy and sell signals.
- R - risk/profit ratio. The indicator uses a virtual StopLoss to receive this parameter.
- curr - current virtual profit after the last indicator signal.
- max - maximum price movement after the signal and up to the current moment.
- SL - current virtual StopLoss.