FEEDBACK
(9)
Initial Balance
Version 5
This indicator draws the “Initial Balance” (aka Initial Range or Opening Range) on .D or 24 hour charts. In addition to the Initial Balance (typically the first hour of trading), the indicator draws the mid-point of the Initial Balance, generally called “half back” and the 150% and 200% extensions of the Initial Balance range. The Initial Balance area for each session is significant for market profile traders, it is the range of the first 60 minutes of trading. Other trading methods consider the Initial Balance as the first 5 minute, 15 or 30 minutes of trading. This indicator can plot any Initial Balance range. This indicator supports equity index futures (“.D” or continuous contracts), other futures (e.g. currency, interest rate, energy, metals, grains), stocks and forex. Configuration options allow the trader to select the Initial Balance time range, the look and feel of the lines, and alert settings.
This indicator draws the “Initial Balance” (aka Initial Range or Opening Range) on .D or 24 hour charts. In addition to the Initial Balance (typically the first hour of trading), the indicator draws the mid-point of the Initial Balance, generally called “half back” and the 150% and 200% extensions of the Initial Balance range.

The Initial Balance area for each session is significant for market profile traders, it is the range of the first 60 minutes of trading. Other trading methods consider the Initial Balance as the first 5 minute, 15 or 30 minutes of trading. This indicator can plot any Initial Balance range.

This indicator supports equity index futures (“.D” or continuous contracts), other futures (e.g. currency, interest rate, energy, metals, grains), stocks and forex.

Configuration options allow the trader to select the Initial Balance time range, the look and feel of the lines, and alert settings.
What's New
Version 5
Bug fix.

Version 4
Ability to share the Initial Balance High and Initial Balance Low with other indicators or strategies using the TradeStation Global Dictionary Additional indicator, IB.PlotR, which plots the shared Initial Balance High and Initial Balance Low in a RadarScreen or chart (supports all interval types)

Version 3
Ability to draw the initial balance range as a vertical line. An essential update for Market Profile traders using https://tradestation.tradingappstore.com/products/MarketProfileforRegularTradingHours

Version 5
Bug fix.

Version 4
Ability to share the Initial Balance High and Initial Balance Low with other indicators or strategies using the TradeStation Global Dictionary Additional indicator, IB.PlotR, which plots the shared Initial Balance High and Initial Balance Low in a RadarScreen or chart (supports all interval types)

Version 3
Ability to draw the initial balance range as a vertical line. An essential update for Market Profile traders using https://tradestation.tradingappstore.com/products/MarketProfileforRegularTradingHours

Version 2
Ability to generate alerts when price crosses the Initial Balance High, Low, 150% Initial Balance High or Low, and 200% Initial Balance High or Low.

Version 1
Media
Customer Reviews
v
Average Customer Rating:
 (9)
Used it Loved it
March 21, 2017 Version: 5
By:Devan Sohni
Can beat the price and value you get. Its all about saving time and being efficient. Love the feature to make extra $$. Easy to use and follow.
Simple, Useful Tool
January 6, 2017 Version: 5
By:Trader Bill
Simple, very useful Opening Range measurement tool to have in your trading toolbox! 5, 15, 30, etc. minute Opening Range, you simply adjust the indicator for your specific use. Read the documentation and take the indicator for a test drive. You will be glad you did!
Perfect
November 28, 2016 Version: 5
By:Omar Hadi
This indicator is exactly what I need. Keeps me from manually drawing these lines, which occurs at an active part of the trading day. Works flawlessly.
saves me a lot of work
August 22, 2016 Version: 4
By:Chunmiao Wu
I like this indicator. It helps to save me a lot of work.
Great Indicator
November 4, 2015 Version: 2
By:ejq0807
Been using the Initial Balance indicator for over a year now. I have multiple screens and it use to take quite an effort to draw the upper and lower range bars on all my charts. The Initial Balance makes all that a snap now. Great Indicator! Get it! It works great.
$2 mo
Free Trial
Subscribe
Unsubscribe
 
Developer
Requirements
Tradestation 9.1 (Update 24)
Support Documents
Asset Type
Stock, Future, Forex
Style
Intraday
Methodology
Other
Analysis Techniques
Applications
Categories