Position Tool

Is it possible for someone to create a “Long position” and “Short position” tool for Tradovate? Something like Trading View has.

thanks.

Something like this? I can add more values as well.

Yes that’s looks like a good option.
Will it work for both Long and Short trades?

An option i would like to see is the ability to set a Risk to Reward ratio and lock the value to the the Position tool. So when you adjust the Risk slider the Target slider would automatically adjust to keep the locked ratio value.

Thanks for attempting to make this tool.

Like if you expand either side, it will stay at the ratio you’ve locked in?

Correct.
Here is how i would use it.
Let’s say my strategy rules require a 1:2 Risk / Reward setup, so when a possible trade is forming i would be able to place the tool on where i would enter and pull down the risk side of the tool to where it would need to be set for my strategy. Since the Target side of the tool would adjust automatically i would be able to tell quickly if there was enough room for price to hit my target.

thanks

Something like this? You can change the RRR by double clicking the drawing as well.

posToolGif

Yes looks promising.

I would definitely like the option to have the tool be in free form as well, so its not locked to a ratio all the time.

Does Tradovate allow a way for the Value of the tool to be displayed constantly so you don’t have to hover and hold shift to see them? it would be great if it could be a “Check box” option.

thanks

Displaying the values constantly - I played with that concept, but the native tooltips rely on the engine to generate the delta values, I just provide the coordinate. Meaning outside of tooltips I don’t have access to that info. If you manually provided it with tick size and value per tick for the contract you’re watching, then it could be displayed accurately. But I don’t like to parameterize things like that typically - every time you switch charts you’ll have to re-parameterize the tool with a new tick size and dollar value that the engine will already know about. So it seems somewhat counter-intuitive.

Making the tool free-form - I could probably add a state where it lets you adjust both ends, but each tool as an instance will allow you to change the individual ratio already.

For get about displaying the values of the tool constantly, i would rather have a tool that works fast with very little lag and little stress on the GPU. The last thing I want is a tool that slows down the charts.

The first version you posted looked like it allowed you to adjust the “Risk” line and the “Target” line independently, and that is all I meant by “Free-Form”.

If making individual tools instead of a “All in one” that is fine with me. I was just thinking about how others might want to use the tool as well.

thanks for all your work.

Just so you know, I posted the current version since it does work fairly nicely now. I can add a second tool that allows for free adjustment of both boxes, but for now they are linked by the ratio you set in the params.

Link to the tool.

Thanks.

What did you call it so i can find it in the Community Indicators, I use the Desktop app not the Web version.

A second tool that is free form works for me, i don’t need it all in one tool.

Thanks again.

Position Drawing Tool on the community.

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Thank you, Just tested it and it works great!

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@Alexander

I noticed the the Centerline (Order entry line) and the Stop loss line is not respecting the chart snap to price increments like the chart crosshair does. Is this an easy fix? Or because of the Ratio feature does it have to be free?
Even if only the Center line (Price entry level line) could snap to instrument’s price increments would be helpful.

I have been using the tool a lot everyday it is such a help, thanks again for making it.

That’s unusual, I was just using it a moment ago and didn’t realize anything off about it. The TP line isn’t always snapped because it’s derived mathematically, but the centerline and stop should be snapped naturally since I’m using whole numbers with the du unit operator.

Could you share a screen of it being off please?

Oddly, all the Position tool drawings and text drawings have disappeared off my chart from yesterday but all the Line tool drawings have stayed. I Seem to have an inconsistent bug with some of the drawing tools on my chart Default ones and custom ones as well.
The tool seem to be work correctly today when i recreate it.
I’m having trouble recreating the Position with the issue, but i finally got it to happen.
This images are from the MNQ chart.

@Alexander Hey, I just started using this drawing tool today. The shaded boxes come up just fine, but the text for open/stop/profit target never show up like in the picture. What am I doing wrong?

Hold the “Shift” key when hovering the mouse cursor over the drawing tool, and the data will pop up.

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Thanks, that did it for me.

@Alexander

Please give a reply to all users that have requested this “STANDARD” feature for months