Initial Balance Levels
- Indicatori
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Jose Roberto Ferreira Santos
Algorithmic trader and MQL5 developer focused on Brazil’s B3 futures (WIN/WDO) and forex. I build Expert Advisors, indicators and utilities with proper risk management, error handling, and Strategy Tester plus demo testing before delivery. Experienced with order flow (aggression/tape reading) - Versione: 1.1
Initial Balance Levels plots the Initial Balance (opening range) of each session with a fully configurable time window, so you can use it on any market: B3 futures (WIN/WDO), indices, forex sessions (London, New York) or crypto.
Features
- IB High and IB Low, drawn live while the range is forming
- IB midpoint
- Two configurable range extensions (default 0.5x and 1.0x the IB range), above and below
- Configurable number of days displayed
- Values available in the Data Window for precise reading
- Works on any symbol; use a timeframe smaller than the IB window (e.g. M1 to M30 for a 1-hour IB)
Inputs
- IB start / IB end (broker server time, HH:MM)
- Days to display
- Show midpoint
- Extension 1 and Extension 2 (multiples of the IB range, 0 = off)
- Colors
How traders use it
The Initial Balance often acts as a reference for the rest of the day: breakouts that hold, false breakouts that return to the range, and extension targets.
Free indicator. Questions and suggestions are welcome in the comments.
