Initial Balance Indicator

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The initial balance refers to the price range and trading volume of the first few minutes of a trading session. The initial balance is often used as a reference point for traders to determine the market trend and to develop trading strategies for the rest of the session. The Initial Balance strategy involves placing trades based on the market’s direction after the initial balance period has ended.
The Initial Balance period typically lasts for the first 30 minutes to 1 hour of a trading session, during which the market is usually the most volatile. Traders often use this time to assess the market and establish the direction of the trend. The Initial Balance range is determined by the high and low prices of the first trading period and is often used as a reference point for determining future support and resistance levels.

Initial Balance Indicator

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The Initial Balance trading strategy involves placing trades based on the market’s direction after the Initial Balance period has ended. If the price breaks out above the Initial Balance range, traders may go long and buy the asset, expecting the market to continue to rise. Conversely, if the price breaks down below the Initial Balance range, traders may go short and sell the asset, with the expectation that the market will continue to fall.

This is a great indicator created by Gemify :
Simple Initial Balance (IB) indicator. Can optionally draw up to three customizable IB extensions (defaults are 1.5x, 2x and 3x).
Configurable start/end times for the Initial Balance period (defaults to 9:30 AM-10:30 AM). It is not timezone aware – all times are considered local time.
Also displays IB Range and historical median range.
Update 01/20/2023
Added Opening Range (30 seconds)
Added Session Mid
Bug fix: Uploading zip exported from recent NT8 version.
Bugfix: Removed unused “using” references.

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Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results. Live Trade Room Disclosure:  This presentation is for educational purposes only and the opinions expressed are those of the presenter only. All trades presented should be considered hypothetical and should not be expected to be replicated in a live trading account. Testimonial Disclosure:  Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.