OPEN-SOURCE SCRIPT
Risk Grid R Levels
This script is a TradingView Pine v5 overlay indicator that draws a custom risk grid based on your Entry Price and Stop Price (-1R).
It calculates one risk unit (1R) as the distance between entry and stop, then plots horizontal levels at -1R, 0R, +1R ... +6R.
0R is your entry, -1R is your stop, and positive levels are profit targets in risk multiples.
The lines are thin and extend only to the right.
Each level has a clean text label placed directly on the line (no badges), and you can control positioning with:
Line Offset (bars) for moving lines left/right
Label Offset (bars) for moving labels independently
If entry and stop are equal, the script shows an error label instead of drawing levels.
It calculates one risk unit (1R) as the distance between entry and stop, then plots horizontal levels at -1R, 0R, +1R ... +6R.
0R is your entry, -1R is your stop, and positive levels are profit targets in risk multiples.
The lines are thin and extend only to the right.
Each level has a clean text label placed directly on the line (no badges), and you can control positioning with:
Line Offset (bars) for moving lines left/right
Label Offset (bars) for moving labels independently
If entry and stop are equal, the script shows an error label instead of drawing levels.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.