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Range Box or Initial Balance

5
The initial balance (IB) is a range in which the price spent its first two OPT periods after the opening. In other words, the opening balance is a range of the first hour after the market opened. The opening balance arose from room trading, as room traders observed the various ranges after the market opened.

This indicator allows you to enter the starting and ending hours and minutes of a specific hourly time range so that the trader can set up different IBs according to the market.

Automatically, the indicator will draw on the chart a rectangle containing this time range along with two lines extending at the maximum and minimum values of this time range.

Additionally, the indicator has the ability to display on each IB the size in points of each range along with the functionality to filter out IBs that do not meet the sizes defined by the trader.

This free version only plots the historical IBs that are on the chart. It does not calculate or plot the new IBs that are presented, for that you must load the indicator again.

İncelemeler 1
pino
86
pino 2024.05.08 13:06 
 

It's one of the best free indicators for working on the concept of initial balance.

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Filtrele:
pino
86
pino 2024.05.08 13:06 
 

It's one of the best free indicators for working on the concept of initial balance.

İncelemeye yanıt
Sürüm 1.30 2023.05.28
Added functionality to calculate and display the size of expensive IBs.

Added functionality to filter out IBs that do not correspond to the maximum and minimum size (in points) determined by the trader.
Sürüm 1.20 2023.05.28
english language parameters
Sürüm 1.10 2023.05.28
Correction is added to have IB ranges whose end time is less than the start time.