FEEDBACK
(13)
Initial Balance
Version 10
The “Initial Balance” (aka Initial Range or Opening Range) can be displayed on Chart Analysis or RadarScreen windows to assist traders who rely on this range to support trading decisions. In addition to the Initial Balance (typically the first hour of trading), the indicator calculates and plots the mid-point of the Initial Balance, generally called “half back” and the 150% and 200% extensions of the Initial Balance range. This indicator can plot any Initial Balance range; supports equity index futures, 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.
The “Initial Balance” (aka Initial Range or Opening Range) can be displayed on Chart Analysis or RadarScreen windows to assist traders who rely on this range to support trading decisions.

In addition to the Initial Balance (typically the first hour of trading), the indicator calculates and plots the mid-point of the Initial Balance, generally called “half back” and the 150% and 200% extensions of the Initial Balance range.

This indicator can plot any Initial Balance range; supports equity index futures, 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 10
Version 10 - Add standard deviation to display text

Version 9
Font configuration

Version 10
Version 10 - Add standard deviation to display text

Version 9
Font configuration

Version 8
Compatibility update.

Version 7
Compatibility update.

Version 6
Support for RadarScreen

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:
 (13)
The Initial Balance Indicator is a very handy tool.
March 14, 2020 Version: 9
By:Mike Lehr
The Opening Range (Initial Balance) trading levels prove themselves as consistent support and resistance and the Initial Balance Indicator plots the opening range of your choice (5-minute, 30-minute, etc.) without fail, every day, so you don't have to. It is very reliable, as are all of the Harvey Rosenblum indicators (I know since I've used most of them), and the price cannot be beat.
Perfect
March 19, 2019 Version: 9
By:JR Trader
This indicator makes finding the IB range so easy. And then to see the IB range extension above and below makes my trade setups straightforward.
Wonderful
February 20, 2018 Version: 7
By:HedgeGuy
Extremely useful indicator. You can make it do what you need without the hassle of drawing the lines yourself. I use it for different markets. TERRIFIC!
Huge time saver
February 10, 2018 Version: 7
By:bd
I use two time segment ranges to help formulate trade ideas. I use this twice on each chart and it is a huge time saver for me. It would be nice to be able to modify which text to include, if you're taking suggestions. Thanks!
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.
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Developer
Requirements
Tradestation 9.5 (Update 22)
Support Documents
Asset Type
Stock, Future, Forex
Style
Intraday
Methodology
Other
Analysis Techniques
Applications
Categories