Galen Woods Reward-To-Risk
It assumes that you are placing a stop-loss at the opposite end of the entry price bar. If you are using other stop placement methods, do not use this indicator.
Enter the Probability of Winning based on your experience, track record, and current assessment of the setup. (Default is 40%.)
The Buffer input allows you to add a number of ticks to your risk amount to account for slippage and commissions.
The Volatility function allows you to hide targets for entry bars with higher than average bar range. A wide range bar represents the need to risk more for that setup. Hence, this function hides the targets for relatively high-risk setups.
This indicator forms part of Galen Wood's Day Trading With Price Action Course.
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact galenwoods directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact galenwoods directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.