IB & OPR ASIA EU USTitle: Advanced Multi-Session Box: IB & OPR (Asia, London, New York)
Description: The Advanced Multi-Session Box: IB & OPR indicator is a versatile, streamlined tool designed specifically for Intraday Traders, Scalpers, and SMC/ICT practitioners. It visually maps out the Opening Price Range (OPR) and Initial Balance (IB) of the three major global trading sessions: Asia, Europe (London), and the US (New York).
Understanding the initial range of these key sessions is critical, as they commonly dictate liquidity pools, intraday support/resistance boundaries, and the directional bias for the rest of the trading day.
🌟 Key Features
✅ Three Core Sessions: Independently configure and toggle the Asia, Europe, and US sessions to match your trading schedule.
✅ Dynamic Timezones: Customize the specific start/end times and timezones (UTC offsets) for each session separately to align with your local broker.
✅ Projected Range Extensions: Optionally extend the session box (High/Low boundaries) forward throughout the current trading day to easily spot late-session breakouts, retests, or liquidity sweeps.
✅ Advanced Midline (50% Equilibrium): Displays a customizable median line inside each session box. The Equilibrium level acts as an excellent dynamic take-profit target or pivot zone.
✅ Smart History Management: Keep your chart perfectly clean! Choose to display only the sessions from "Today", "Two Days", the past "Week", or "All" history to prevent visual clutter.
✅ Deep Visual Customization: Every visual aspect is tweakable. Adjust the box opacity, fill color, border styles, text labels, label alignments, label sizes, and colors directly from the settings menu.
💡 How to Use
Initial Balance Breakouts: The high or low of an established Opening Price Range acts as a crucial line in the sand. A strong 15m or 1H candle close outside the box often signals a trend continuation, while a swift rejection back inside signals a mean-reversion setup.
Equilibrium Bounces: Price frequently respects the median line (50% of the session's range) during consolidations. Use it as a dynamic support or resistance validation point.
Liquidity Sweeps: Observe how the US session interacts with the established highs and lows of the Asian or European session. A quick sweep of the Asian high right at the London or NY open offers a classic "Judas Swing" trading setup.
Note: This indicator employs modern, highly optimized internal logic to manage PulseWire's object limits effortlessly, ensuring zero lag on your charts while maintaining visual accuracy. Indicator
NY AM Opening Range by GRCtrader📊 NY AM Opening Range by GRCtrader
=== OVERVIEW ===
This is a professional-grade opening range analysis tool designed for futures traders focusing on the critical 9:30 AM ET session. It automatically detects and visualizes the New York AM opening range, center encroachment levels, and standard deviation extensions—key support/resistance structures used in ICT/SMC trading methodology.
=== KEY FEATURES ===
✓ Automatic 9:30 AM ET Detection
- Auto-detects opening range bars across all US futures markets
- COMEX (Gold, Silver, etc.) auto-detection with proper timezone handling
- Customizable timezone offset for CT, PT, and other regional traders
✓ Opening Range Framework
- High/Low lines from 9:30 AM session
- Center Encroachment (C.E.) midpoint for directional bias
- Multiple historical sessions (configurable 1-20 sessions)
- Clean, professional styling with customizable colors
✓ Standard Deviation Bands
- 8 preset standard deviation multiples: 0.5, 1.0, 1.5, 2.0, 2.5, 3.0, 4.0, 4.5
- Based on opening range size—scales automatically with volatility
- Dotted/dashed styling for clear visual separation
- Optional labels for quick reference trading
✓ Multi-Session Tracking
- View up to 20 historical opening ranges simultaneously
- Track mean reversion, range expansion, and structural shifts
- Identify trend bias and liquidity zones across sessions
=== USE CASES ===
• Range traders: Fade OR breaks and trade C.E. bounces
• Breakout hunters: Identify STDV targets beyond the range
• Macro traders: Monitor shift in opening range as volatility/bias indicator
• Day traders: Quick reference for high-probability rejection zones
• Market structure analysis: Understand intraday liquidity distribution
=== SETTINGS ===
• Futures Timezone Offset: Align charts to ET (default -1 for CT)
• Number of Opening Ranges: Display 1-20 historical sessions
• OR Line Width & Color: Customize high/low visualization
• C.E. Line Width & Color: Customize center encroachment display
• STDV Settings: Toggle, color, width, style (solid/dotted/dashed)
• Label Options: Size and visibility toggle for clean chart layout
=== TECHNICAL DETAILS ===
Built on Pine Script v6 with:
- Efficient 30-minute bar analysis
- Zero lag structure detection
- Dynamic line/label management (500 lines, 500 labels max)
- Full customization via Settings panel
=== OPEN SOURCE ===
This indicator is published as an open-source tool. Feel free to:
- Fork, modify, and redistribute for personal use
- Build derivatives and extended tools
- Share improvements with the community
- Use commercially with attribution
MPL 2.0 License: mozilla.org
=== DISCLAIMER ===
This tool is for analysis and education purposes. Past performance does not guarantee future results. Always use proper risk management, position sizing, and confirm signals with your trading strategy. No financial advice is implied. Indicator
OpenFrame Range MapOpenFrame Range Map is an intraday opening-range framework built for traders who want more than a basic session box.
Instead of only plotting the first range of the session, this script turns that range into a structured map for the rest of the day. It measures the opening range, plots its internal levels, builds expansion targets from the completed range, tracks session VWAP, and then monitors how price behaves after the range is finished.
The default setup is based on an Asian-session workflow in UTC :
Opening Range Window: 0000-0100
Trading Session Window: 0000-0900
Both can be changed from the settings, so the script can also be adapted to London, New York, or any custom intraday session.
Why use this indicator
Many opening-range tools stop at plotting a high and a low. That is useful, but often incomplete.
This script is designed for traders who want to answer questions like:
Is today’s opening range relatively small or already stretched?
Is price accepting above the range, rejecting it, or staying trapped inside it?
Where are the next objective expansion levels once the range is complete?
Is post-range movement happening with clean session structure or not?
How is price behaving relative to the session VWAP after the opening range is established?
The goal is not to predict the future. The goal is to give intraday traders a cleaner structure for context, bias, and target mapping once the first range of the session is known.
What makes this script different
This script is not just an opening-range box.
It combines several components into one workflow:
Opening Range Structure
Range high
Range low
Midpoint
25% and 75% internal levels
Optional opening-range box
Expansion Target Ladder
0.5x
1.0x
1.5x
2.0x
optional custom multiplier
Session VWAP
A custom session VWAP that resets at the start of the selected trading session, instead of relying only on a generic daily reset
Range Quality Classification
The completed opening range is compared against confirmed daily ATR context
This helps classify the day as Compressed, Balanced, or Expanded
Post-Range Behavior Tracking
Bullish acceptance above the completed range
Bearish acceptance below the completed range
Optional first retest markers after acceptance
So the script is not only about drawing levels. It is also about helping traders read what happens after the range is built.
How it works:
During the selected Opening Range Window, the script builds the range high and range low.
While the range is forming, the dashboard shows Building.
When the window ends, the range is locked.
The script then calculates:
midpoint
quartiles
expansion targets
range size relative to confirmed daily ATR
During the selected Trading Session Window, the script monitors whether price accepts above or below the completed range.
If enabled, it also marks the first clean retest of the broken range boundary.
How to use it
A common workflow is:
Wait for the opening range to complete
Observe the range size and quality classification
Watch whether price remains inside the range or accepts outside it
Use the target ladder as objective reference levels
Use session VWAP as an extra intraday context layer
Use acceptance and retest markers as structure events, not as guaranteed outcomes
Default session logic:
The script defaults to an Asian-session intraday structure in UTC, but the sessions are fully editable.
This script works best on intraday charts.
Higher timeframes can still display the levels, but the intended use is intraday session analysis.
Important limitations
This is not a prediction engine
It does not guarantee profitable outcomes
Acceptance and retest markers are structure events, not certainty signals
Session choice matters and can significantly change behavior
Opening-range logic is most useful on intraday charts
Summary
OpenFrame Range Map is built for traders who want to turn the first part of a session into a usable framework for the rest of the day.
It helps answer:
how large the session range is
whether the day started compressed or expanded
whether price is accepting outside the range
where objective expansion levels sit
how price behaves around the session VWAP after the range is complete
That makes it more than a simple session box and more useful as a daily intraday structure map. Indicator
Global Session TrackerGlobal Session Tracker is a professional-grade Pine Script tool designed for "Time and Price" traders (such as those following ICT, SMC, or London Breakout strategies). It doesn't just show when a session is active; it dynamically tracks the Opening Range and flags the exact moment price breaches those boundaries.
🟢Indicator Overview
Global Session Tracker indicator acts as a visual map of the 24-hour trading cycle. By segmenting the day into Sydney, Tokyo, London, and New York, it allows traders to see how liquidity is engineered in one session and "swept" or "expanded" in the next.
Core Features
Session Candles: The indicator plots "phantom" candles over your main chart. These represent the high and low of the session from its start to the current moment.
Initial Balance (IB): The first candle of every session is marked with a label (e.g., "LON Open").
Dynamic Session Ranges: Unlike static boxes, this script uses plotcandle to create a continuous visual "ribbon" of the session's high/low boundary.
Real-Time Breakout Detection: It monitors the first bar of a session to set the initial high/low and then triggers signals if those levels are broken.
Status Labels: Floating labels on the right-hand axis provide a clean UI to identify which session is currently "Live" without cluttering the main price action.
Multi-Timezone Compatibility: Users can toggle the base timezone (UTC, EST, etc.) to align with their specific broker or local time.
Dashboard Table: A real-time HUD (Heads-Up Display) at the top right showing the Open, High, Low, and Close of only the currently active sessions.
🛠 Technical Details
Logic: "This script identifies the initial high and low of the first bar of a defined session and tracks breaches of these levels throughout the session duration."
Inputs: Explain that tz (Timezone) must match the user's preference for accurate session starts.
Visuals: * Triangles: Session Start.
1.Blue Circles: Bullish Breakout (Price > Session High).
2.Red Circles: Bearish Breakout (Price < Session Low).
Performance: "Zero-repainting logic; signals are confirmed at the close of the bar."
Inputs & Settings
Timezone: Set this to your local time or UTC to align the session hours correctly.
Session Times: Defaulted to standard institutional hours, but fully adjustable.
Show Table: Toggle the dashboard on or off.
📈 How to Use for Trading
Trading sessions provide the "context" for price action. Here are three professional ways to trade using this tool
Strategy 1: The London Breakout (The "Morning Shout")
The London session often sets the trend for the day.
Identify: Wait for the "LON Open" label.
Observe: Let the first 30–60 minutes form a range.
Trade: When you see a Blue Circle (Upside Break), look for a Long entry. If a Red Circle appears, look for a Short.
Target: The New York session open or the high/low of the previous Sydney/Tokyo range.
Strategy 2: The New York Reversal / Continuation
New York often "tests" the extremes of the London session.
Continuation: If New York opens and immediately breaks the London High (Blue Circle), the trend is strong.
Reversal: If price enters the New York session at the London High but fails to break it, look for price to return to the London Low.
Strategy 3: Using the Dashboard for Volatility
Monitor the High and Low columns in the table:
Compression: If the High and Low values for a session are very close (narrow range), it indicates a "Squeeze."
Expansion: A large gap between High and Low indicates a trending market. Professional traders often avoid entering "late" into an already massive expansion and wait for the next session to start.
Additional Strategies:
Global Session Tracker indicator is designed for Session-Based Liquidity Trading. Here are three common strategies:
Strategy A: The Initial Balance Breakout
The Concept: The high and low of the first hour (or the entire previous session) often act as support/resistance.
Trade Setup: Wait for the Blue Circle (High Break) or Red Circle (Low Break).
Execution: If London breaks the Tokyo High (Blue Circle), traders look for a "Stop Run" or a trend continuation toward the New York session.
Strategy B: The "Judas Swing" (ICT Concept)
The Concept: Price often breaks the previous session's high/low to grab liquidity before reversing.
Trade Setup: Use the breakout circles to identify when a level is breached. If a Red Circle appears (Low Break) but the candle closes back inside the range, it may indicate a "Fakeout," signaling a long entry.
Strategy C: Time-Price Alignment
The Concept: Volatility usually spikes at the "Open" shapes.
Trade Setup: Only take breakout signals that occur within 1 hour of the Triangle Up (Session Open) markers. Signals late in a session are often less reliable due to declining volume.
Indicator
Smooth Trader - Volume Toolkit Smooth Trader Lite – Volume at a Glance ToolkitThis open-source toolkit is designed for one purpose: helping traders read volume behavior and market control at a single glance — no clutter, no signal overload, just clear visual context to support any trading style.
The five core components work in harmony to reveal volatility, momentum vs volume interaction, institutional volume entries, reversal zones, and directional pressure — all optimized for speed and readability.
Core Components & How They Connect
1. ATR Volatility Baseline
Displays Average True Range (default 14) in a compact top-right table.
Sets the "normal" movement scale so you instantly know whether current volume is significant relative to typical volatility — the foundation for judging every other element.
2. Momentum/Volume Wave (MV Cloud)
Plots a 21-period EMA against a dynamic running VWAP (50/100/200 length based on preset aggression).
The filled envelope shows how momentum is pushing against (or with) volume-weighted price — bullish fills when EMA leads, bearish when VWAP dominates.
Acts as the central "wave" that ties momentum to volume flow, giving immediate context for high-volume events.
3. PVSRA-Style High-Volume Candles
Classifies candles by volume relative to recent average and range magnitude. High volume (≥2× avg or max magnitude) → strong bull/bear color or diamond marker
Medium volume (≥1.5× avg) → lighter color
Instantly flags when big volume enters — often institutional buying/selling or manipulation setups (spikes followed by quick reversals).
4. Initial Balance (OBR) Reversal Levels
Plots the high/low of the regular session's opening range on selectable higher timeframes (default 15m & 60m).
Historical lines optional. These levels show where early volume was stopped and reversed — key reference points for judging later volume aggression or exhaustion.
5. Directional Volume Trend Coloring
Applies a smooth gradient to candle bodies based on multi-timeframe VIDYA z-score average (presets processed only on first bar for efficiency).
Colors shift gradually: neutral gray → strong bullish teal → strong bearish magenta.
Reveals whether volume pressure is consistently building in one direction, providing the "big picture" bias to interpret high-volume events and MV Cloud shifts.
Why These Components Work Together
ATR gives the volatility scale to judge "high volume."
MV Cloud shows momentum clashing with or riding volume-weighted levels.
PVSRA candles pinpoint the exact moments big volume arrives.
Initial Balance levels mark where that volume was previously rejected.
Trend coloring confirms if the volume flow is one-sided and gaining conviction.
The result: a lightweight, glanceable system that simplifies volume reading and helps spot control shifts, climaxes, or manipulation without generating explicit signals.
Optimizations
Enum-based inputs for clean, intuitive configuration
Calculations refactored for performance (first-bar preset evaluation, removed duplicates)
Lower-TF library upgraded to v5
Toggleable visuals with customizable colors and optional elements
How to Use
Add to chart → adjust presets and toggles → glance at the chart: Is volume high relative to ATR?
Is momentum breaking VWAP?
Are PVSRA candles firing?
Were Initial Balance levels respected?
Is trend coloring strengthening?
Ideal as a visual support layer on 5m–4h timeframes for stocks, forex, or crypto.This open-source toolkit provides clean volume and structure context. For traders seeking advanced delta-pressure signals and proprietary entry logic.
Disclaimer
For educational and informational purposes only. No trading advice or performance guarantees. Trading involves substantial risk of loss. Use at your own risk.
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Indicator
Weekly Initial BalanceThis indicator marks the Weekly Initial Balance — the price range established during the first two trading days of the week — and projects extension levels for the remainder of the week.
The idea behind it
Monday sets the opening range for the week. Tuesday may extend that range — it could produce a false break, a range extension, a reversal, or an inside day. In a large majority of weeks, by the time Monday and Tuesday have traded, the high and low extremes are already in place for the rest of the week. One of these extremes will tend to hold, while the other may get broken.
The default window (Sunday 18:00 – Tuesday 16:00 New York time) captures exactly this: the full Monday session plus Tuesday's contribution. Once the IB window closes, the remaining days of the week tend to trade in relation to these established levels.
What makes this different
Most Initial Balance indicators focus on the first 30 or 60 minutes of a single session. This indicator applies the IB concept to the weekly timeframe — capturing the Mon-Tue range that statistically defines the week's extremes. The configurable window, range extension multipliers, and clean label handling (current week only) make it a practical tool rather than a theoretical overlay.
How it works
- A shaded box marks the IB range (high and low) as it forms during the configured window
- After the window closes, the IB high, low, and 50% midpoint extend as horizontal reference levels
- Configurable range extensions (default 0.5x and 1.0x of the IB range) project above and below as potential targets
- Price labels display the exact level at each line (current week only — historical weeks show clean lines without clutter)
How to use it
- **Which side holds?** After the IB window closes, one extreme tends to hold for the week while the other gets broken — watch for which side price tests and rejects first
- **Range extensions as targets:** When the IB high or low breaks, the 0.5x and 1.0x extensions provide measured-move targets
- **Inside weeks:** If price stays within the IB range through Friday, the 50% midpoint often acts as a magnet
- **Volatility read:** A wide Monday–Tuesday range suggests the week's extremes may already be set; a narrow range suggests expansion is still ahead
- **Alerts:** Built-in alerts fire when price breaks the IB high or low after the window closes
Settings
- Fully configurable start/end day, hour, and minute (New York time)
- Adjustable number of historical weeks to display
- Configurable extension multipliers (not limited to 0.5x and 1.0x)
- Toggle individual levels, labels, and extensions on/off
- Works on any instrument with sufficient intraweek data (futures, forex, crypto)
Recommended timeframes: 30min and 1H charts for best visual clarity. Intraday only — the indicator requires sufficient chart history to display the configured number of weeks.
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Indicator
Initial Value Breakout [OmegaTools]Initial Value Breakout (Ω IVB) is an intraday market structure indicator designed to identify, extend, and contextualize the Initial Value range formed during a user-defined opening session, with a default focus on the New York market open. The script is built for traders who want a structured and objective framework for reading early-session price discovery, tracking breakout direction, mapping expansion levels, and estimating adaptive continuation targets based on recent realized behavior. It is particularly effective on instruments where the opening phase provides meaningful information about participation, volatility, and directional intent, such as index futures, equities, and liquid intraday markets.
The core idea of the indicator is to capture the high and low established during a configurable opening window and treat that range as the session’s Initial Value structure. Once the session ends, the script projects this structure forward through a configurable validity period, allowing the trader to monitor how price interacts with the key boundaries for the rest of the day. In practice, this creates a clean reference framework that can be used to distinguish between balanced sessions, failed breakouts, and genuine range expansion environments.
During the selected opening session, the indicator continuously tracks the session high and session low while also collecting bar-by-bar mid-price data. This allows the script not only to define the upper and lower boundaries of the Initial Value range, but also to calculate a more stable internal reference level that reflects the opening distribution of price. Instead of relying on a simple midpoint between the session high and low, the script derives a center line using a hybrid central tendency approach that combines the average and median of opening-session mid-prices. This makes the central line more robust to isolated spikes and erratic early-session prints while still preserving responsiveness to the underlying structure.
After the Initial Value range is formed, the script monitors price action for breakout events and updates a directional bias when price crosses above the Initial Value high or below the Initial Value low. This bias acts as a structural state variable for the session and is used both as a visual context cue and as part of the adaptive target logic. In practical terms, the bias helps the trader distinguish whether the market is currently expressing upside or downside initiative relative to the opening range, which is often critical when evaluating continuation setups versus reversion opportunities.
In addition to the primary Initial Value high and low, the indicator can display deviation levels that project one full Initial Value range above and below the original boundaries. These expansion levels provide objective continuation references and are useful for identifying whether a breakout is developing into a true trend day or simply producing a short-lived excursion. Because the deviation levels are derived directly from the width of the opening range, they scale automatically with the session’s early volatility and remain instrument-agnostic in their construction.
A key advanced feature of Ω IVB is its adaptive target system. Rather than relying exclusively on fixed range multiples, the script estimates continuation targets using recent realized breakout extensions observed during prior sessions. When a session ends and the Initial Value structure is reset, the script records how far price extended beyond the Initial Value boundary in the direction of the active bias within the configured validity window. Upside extensions and downside extensions are tracked separately in rolling samples, allowing the indicator to maintain side-specific behavior profiles. The script then computes projected upside and downside targets by applying the average of these recent realized extensions to the current session’s Initial Value boundaries. This creates dynamic targets that adapt to the instrument’s recent intraday expansion characteristics and can be more informative than static multipliers in changing volatility regimes.
The indicator also includes an optional VWAP that resets from the beginning of the Initial Value session. This provides an additional institutional-style benchmark for evaluating price acceptance, trend quality, and rotational behavior relative to the opening structure. When enabled, the VWAP can be used alongside the Initial Value lines and breakout bias to refine trade selection, especially in cases where price breaks the range but fails to hold above or below both the range boundary and VWAP.
From a visual design perspective, the script is intentionally built around line objects and line fill objects to produce a clean and precise intraday chart presentation. The Initial Value high and low are displayed as horizontal reference lines, while the optional center line, deviation levels, and adaptive targets can be layered on demand depending on the user’s preferred level of detail. Optional filled zones can be enabled to visually emphasize the Initial Value area and the deviation bands, making it easier to read structure at a glance without overcrowding the chart. Bullish and bearish colors are fully customizable so the indicator can be integrated into different chart themes and workflow preferences.
The session and validity inputs allow the script to be tailored to different instruments and trading styles while preserving the same logic. The session input defines the exact time window used to construct the Initial Value range in New York time, and the validity input determines how long the levels remain active and how far the script looks when measuring realized post-breakout extensions for the adaptive target model. This makes the tool flexible enough for traders who focus on the cash open, the first hour, or custom opening structures, while still maintaining a consistent statistical framework.
Ω IVB is well suited for traders who use opening range logic, session structure analysis, breakout continuation models, and rule-based intraday execution. It can be used to frame directional bias, identify acceptance or rejection around key opening references, plan profit-taking zones, and distinguish between balanced and expanding sessions. It becomes particularly powerful when combined with order flow analysis, volume studies, market internals, or discretionary tape reading, because it provides a stable structural map around which more granular execution decisions can be made.
As with any analytical tool, the indicator is intended to support decision-making rather than replace a complete trading process. It should be used within a broader framework that includes risk management, position sizing, and execution discipline. When used correctly, Initial Value Breakout provides a professional and systematic way to interpret the opening phase of the market and translate that information into actionable intraday structure.
By Eros, OmegaTools Indicator
Prior Levels [crlmx] Previous Levels (prLevels) is a Multi-timeframe horizontal price level tool, presenting current/previous day, previous week and custom sessions with optional Initial Balance.
Key Features
- Offering: Open, High, Low, Mid levels on all timeframes
- On/off visibility toggle for sections and individual levels
- Optional price display labels
- Session presets: NYC, London, Asia
- Custom Session timeframes: 4H, 8H, 12H, Month
- Initial Balance: first-hour box with extending H/L reference lines
- Weekday-only session detection for accurate weekend display
- Streamlined input / UI brought to you by crlmx
Trading Applications
- Automated key previous levels for support and resistance read
- Disable unused sections to keep charts clean and reduce visual noise
- Track session-specific ranges for multi-session markets
- Use Initial Balance as directional reference for the day
- Combine with volume or momentum indicators to confirm level reactions
- Intraday Levels: Current Day + Previous Day | Chart: 1-15 min
- Swing Reference: Previous Day + Previous Week | Chart: 15 min - 1H
- Session Trading: Custom Session (NYC/LDN/Asia) + IB | Chart: 1-5 min
- Multi-Session: Stack multiple instances with different session presets
- Initial Balance: Works on 1-5 min charts and can resolve into S/Rs
- Previous Week: Levels for context on session breaks and failed auctions
Version History
- v0.47: Initial release
Indicator
Initial Balance Statistical MappingInitial Balance Statistical Mapping
Overview
The Initial Balance (Enhanced) indicator is a sophisticated trading tool designed specifically for NQ (Nasdaq-100 E-mini Futures) during New York trading hours. It provides data-driven insights based on comprehensive analysis of 12 years of 1-minute price data (2013-2025), offering traders probabilistic forecasts for intraday price movement based on the market's behavior during the critical first hour of trading.
What is Initial Balance?
Initial Balance (IB) refers to the price range established during the first hour of the New York cash session (9:30-10:30 AM ET). This concept, pioneered by legendary trader Peter Steidlmayer as part of Market Profile theory, represents a critical period where the market establishes its initial value area for the day.
The IB high and low create key reference points that professional traders use throughout the session to:
Identify potential support and resistance levels
Gauge market directional bias
Set realistic profit targets
Assess market volatility and range expectations
Statistical Foundation
This indicator is built on rigorous statistical analysis of 12+ years of NQ futures data (over 3,000 trading sessions), examining:
Opening Range Patterns: 5-minute and 15-minute opening ranges
Initial Balance Characteristics: Directional bias, extreme formation sequence, and closing position
Breakout Behavior: Which IB boundary breaks first and subsequent price action
Midpoint Dynamics: Probability and timing of midpoint retests
Session Outcomes: Correlation between IB patterns and daily close direction
Extension Targets: Historical percentile-based price projections beyond IB boundaries
The statistical combinations tracked include:
IB direction (bullish vs bearish) × Extreme formed first (high vs low) × Close position (above vs below midpoint)
Post-break behavior (confirmation, reversal, or range-bound)
Conditional probabilities for over 16 unique market scenarios
Visual Components
1. IB Box
A shaded rectangular area highlighting the first hour's price range:
Top boundary: IB High
Bottom boundary: IB Low
Midpoint line: The 50% level of the IB range
Customizable colors for the fill, border, and midpoint
2. Extension Levels
Percentile-based price targets above and below the IB boundaries, calculated from historical extension data:
Above IB High:
25th percentile: +0.14% extension
Median (50th): +0.31% extension (default display)
75th percentile: +0.60% extension
90th percentile: +1.00% extension
Below IB Low:
25th percentile: -0.16% extension
Median (50th): -0.38% extension (default display)
75th percentile: -0.79% extension
90th percentile: -1.37% extension
These levels represent targets that historically occur at the specified frequency. For example, the median extension suggests that 50% of the time, the market extends at least this amount beyond the IB boundary when it breaks out.
3. Statistics Table
A dynamic information panel displaying real-time probabilities and historical context (detailed in "Interpreting the Statistics Table" section below).
Input Parameters
Calculation Period
IB Period: Default 0930-1030 (9:30-10:30 AM ET)
Defines the time window for Initial Balance calculation
Should match the first hour of NY cash session
Regular Trading Hours: Default 0930-1600 (9:30 AM - 4:00 PM ET)
Extension lines only display during these hours
Statistics table appears during RTH only
Prevents visual clutter during overnight sessions
Display Options
Show IB Box: Toggle the shaded IB range rectangle
Only Show Current IB: When enabled, previous days' IB boxes are removed (keeps chart clean)
Show Extension Labels: Display percentile labels on extension lines
Show Extensions: Individual toggles for each extension level
Colors
IB Box Color: Customize the shaded range fill (default: semi-transparent blue)
Box Border Color: Border line color (default: gray)
Midpoint Color: Midpoint line color (default: gray)
Extension Color: All extension lines and labels (default: blue)
Styling
Line Style: Choose Solid, Dashed, or Dotted for IB box borders and midpoint
Extension Line Style: Separate style control for extension levels
Extension Line Width: 1-4 pixels thickness
Extension Label Size: Tiny/Small/Normal/Large/Huge
Statistics Table
Table Position: 9 placement options (corners, edges, center)
Table Size: Auto/Tiny/Small/Normal/Large/Huge
Sessions for IB Stats: Number of previous sessions (5-250) to calculate rolling IB range statistics
Higher values = more stable averages
Lower values = more responsive to recent market conditions
Default: 50 sessions
Interpreting the Statistics Table
The statistics table is the analytical core of this indicator, providing probabilities derived from 12 years of historical NQ data. It updates in real-time as the trading day progresses.
Section 1: IB Characteristics
IB Direction
Bullish (green): IB close > IB open
Bearish (red): IB close < IB open
This reflects whether the first hour closed higher or lower than it opened
Extreme First
High First: The IB high was established before the IB low during the first hour
Low First: The IB low was established before the IB high
This sequence often indicates early momentum direction
Close Position
Above Midpoint: IB close is above the midpoint of the IB range
Below Midpoint: IB close is below the midpoint
This shows where buying/selling pressure finished within the range
Section 2: Historical Pattern & Probabilities
Historical Pattern
Shows the number of sessions (out of 3,000+) that match the current IB combination
Example: "151 sessions" means this exact pattern (e.g., Bullish + High First + Close Above Mid) occurred 151 times
Larger sample sizes (>100) provide more reliable probabilities
Smaller samples (<50) should be interpreted with appropriate caution
Next Break
Predicts which IB boundary will break first:
HIGH: Price likely to exceed IB high before IB low
LOW: Price likely to breach IB low before IB high
Neither: Higher probability that both boundaries remain intact for the session
Shows the highest probability outcome with its percentage
Based on what actually happened in similar historical sessions
Midpoint Retest
Probability that price will return to the IB midpoint at some point during the session
Initially shows "PENDING" status (orange)
Updates to "✓ CONFIRMED" (green) when the midpoint is touched after IB formation
Calculated based on sessions where price left the midpoint (>0.1% threshold) and returned
Average/median time to retest is tracked in the underlying data
Session Close
Highlighted row (green background): The key predictive metric
Predicts whether the NY cash session (9:30 AM - 4:00 PM ET) will close:
Bullish: Close > IB open (green)
Bearish: Close < IB open (red)
Shows the probability of the more likely outcome
This is arguably the most actionable statistic for directional bias
Section 3: IB Range Statistics
Current Range
The actual point value of today's IB range (IB High - IB Low)
Useful for comparing to historical norms
Mean (X/Yd)
Average IB range over the lookback period
"X/Y" indicates X sessions were captured out of Y lookback days
May be less than lookback if some days had incomplete data or early closures
Percentile Rank (color-coded cell)
Shows where today's IB range ranks relative to recent sessions:
Blue tint (<20th percentile): Unusually narrow range - expect potential expansion
Light gray (20-60th): Normal range
Dark gray (60-80th): Above average range
Red tint (>80th percentile): Unusually wide range - may indicate high volatility or potential consolidation
Format: "92nd" means today's range is larger than 92% of the last n sessions (n is defined by the lookback period)
Section 4: Post-Break Analysis (Dynamic Section)
This section appears only after the IB high or IB low is broken, replacing the standard table with expanded statistics.
━ IB HIGH BROKEN ━ or ━ IB LOW BROKEN ━
Orange header indicates which boundary was exceeded
Triggers when price definitively breaks through IB high or low
Historical Breaks
Number of times this specific pattern (IB direction + close position + break direction) occurred historically
Example: "1134 times" means this combination has broken the IB high 1,134 times in the dataset
Mid Retest Prob
Probability that price will return to test the IB midpoint after breaking out
Critical for entry/re-entry decisions and stop placement
Percentages typically range from 40-65% depending on the pattern
If Retest Occurs:
Shows three potential outcomes if the midpoint is retested after the break:
Bounce Back UP/DOWN (Confirmation - green text)
After breaking IB high and retesting midpoint → bounces back up (confirms bullish breakout)
After breaking IB low and retesting midpoint → bounces back down (confirms bearish breakdown)
This is the "successful retest" scenario traders often look for
Reverse to LOW/HIGH (Reversal - red text)
After breaking IB high and retesting → reverses and breaks IB low (failed breakout)
After breaking IB low and retesting → reverses and breaks IB high (failed breakdown)
The "trap" scenario that catches breakout traders
Stays in Range (neutral text)
Price retests midpoint but then remains between the midpoint and the opposite IB extreme
No additional breakout in either direction
Consolidation/balance scenario
Example Interpretation:
━ IB HIGH BROKEN ━
Historical Breaks: 1134 times
Mid Retest Prob: 44.9%
If Retest Occurs:
Bounce Back UP : 41.3% (confirms the high break)
Reverse to LOW : 39.1% (breaks IB low instead)
Stays in Range : 19.6% (consolidates)
This tells you:
This pattern has broken the IB high 1,134 times historically
There's a 44.9% chance price will retest the midpoint after breaking
IF it retests, there's roughly an equal chance it bounces back up (41.3%) or reverses to break the low (39.1%)
Only 19.6% of retests result in consolidation
This would be a high-risk breakout due to the near-equal probability of confirmation vs. reversal
How the Statistics Are Calculated
Data Collection Methodology
The Python analysis script processes:
12+ years of 1-minute NQ futures data (2013-2025)
3,000+ trading sessions
Only NY cash session data (9:30 AM - 4:00 PM ET)
Adjusted for early closures (holidays, half days)
Conditional Probability Framework
The indicator uses a nested conditional probability structure:
Level 1: IB Direction
Bullish (close > open) vs Bearish (close < open)
Level 2: IB Extreme Sequence
High First vs Low First
Determined by which extreme was reached first during IB formation
Level 3: IB Close Position
Close Above Midpoint vs Close Below Midpoint
Where within the range did the IB close?
Level 4: Break Direction
Which boundary broke first after IB?
High Breaks / Low Breaks / Neither
Level 5: Midpoint Retest Behavior (post-break)
Did midpoint get retested after break?
If yes: Confirmed / Reversed / Stayed in Range
This creates specific combinations like:
"Bullish IB + Low First + Close Above Mid" → 76.7% bullish session close (1,281 historical occurrences)
"Bearish IB + High First + Close Below Mid" → 73.9% breaks low first (1,127 occurrences)
Extension Percentile Calculations
For each session, the maximum extension beyond each IB boundary is measured:
High Extension: (Session High - IB High) / IB High × 100
Low Extension: (IB Low - Session Low) / IB Low × 100
These extensions are collected across all sessions, and percentiles are calculated:
25th percentile: 25% of sessions extend at least this far
50th percentile (Median): 50% of sessions extend at least this far
75th percentile: 75% of sessions extend at least this far
90th percentile: 90% of sessions extend at least this far
Note: Sessions with no extension (price never exceeded the IB boundary) are included in the dataset as zero-extension values. This is statistically important because it means:
The median extension of +0.31% above IB high means 50% of ALL sessions (including those that never broke the high) extended at least this far
This is a conservative, realistic measure of actual market behavior
IB Range Percentile Rank
The rolling percentile rank compares today's IB range to the previous N sessions (default 50):
Collect IB ranges for the past 50 sessions
Count how many of those ranges were smaller than today's range
Divide by total sessions and multiply by 100
Example: If 34 of the past 50 sessions had smaller IB ranges than today:
Percentile = (34/50) × 100 = 68th percentile
Today's range is larger than 68% of recent sessions
Real-Time Validation & Updates
The statistics table evolves as the trading day progresses:
Pre-IB Formation (9:30-10:30 AM)
Table shows "PENDING" for all fields in orange
No predictions yet, as IB hasn't formed
Useful as a reminder that IB is still forming
IB Formation Complete (10:30 AM)
All IB characteristics are determined and displayed
Historical pattern sample size is shown
Probabilities are populated based on the specific IB combination
"Midpoint Retest" shows expected probability with "PENDING" status
During Trading Session (10:30 AM - 4:00 PM)
Midpoint Retest status updates from "PENDING" to "✓ CONFIRMED" if midpoint is touched
Table remains stable showing initial probabilities
Extension levels continue to be displayed
After IB Breakout
Entire table is dynamically rebuilt when IB high or low is broken
Post-break statistics section is added
Shows refined probabilities specific to the break direction
Midpoint retest probability is now specific to post-break behavior
End of Session (4:00 PM)
Table is removed from chart
IB box and extensions remain visible for reference
Resets for next trading session
Practical Trading Applications
1. Directional Bias
Use the "Session Close" prediction to establish your directional bias for the day
Higher percentages (>70%) suggest stronger historical edge
Consider trading with the bias rather than against it
2. Breakout Trading
"Next Break" probability helps anticipate which boundary is more likely to break
Wait for confirmation, but prepare for the higher-probability direction
Use extension levels as initial profit targets
3. Mean Reversion
High "Midpoint Retest" probabilities (>80%) suggest mean reversion opportunities
After a break, if retest probability is high, consider waiting for the pullback
Post-retest statistics help determine whether to fade or trade with the move
4. Risk Management
Wide IB ranges (>75th percentile) may suggest:
Higher volatility day requiring wider stops
Potential for consolidation or smaller extensions
More challenging trading conditions
Narrow IB ranges (<25th percentile) may suggest:
Compressed volatility ready to expand
Potential for larger extensions when breakouts occur
Clearer directional moves
5. Trade Filtering
Use the statistics to avoid low-probability setups
If "Session Close" and "Next Break" align (both bullish or both bearish), confidence is higher
Conflicting signals suggest a more balanced, range-bound day
6. Exit Strategy
Extension percentiles provide logical profit targets:
Conservative: 25th percentile (smaller move, higher hit rate)
Moderate: 50th percentile (median expectation)
Aggressive: 75th-90th percentile (larger move, lower hit rate)
After a midpoint retest, use the post-retest probabilities to decide whether to hold or exit
Important Notes & Disclaimers
Timeframe Specificity
This indicator is designed exclusively for NQ futures
Statistics are derived from NY cash session hours only (9:30 AM - 4:00 PM ET)
Do not use on other instruments or timeframes without independent validation
The IB period should always be set to the first hour of the NY session
Statistical Interpretation
Probabilities are not certainties - a 70% probability means 30% of the time the opposite occurs
Sample size matters - combinations with <50 occurrences should be treated with caution
Market conditions evolve - the 12-year dataset includes various market regimes, but future behavior may differ
Past performance ≠ future results - these statistics are educational and analytical tools, not guarantees
Best Practices
Use this indicator as one component of a comprehensive trading plan
Combine with price action, volume analysis, and market context
Paper trade strategies based on these statistics before risking real capital
Keep a trading journal to track how probabilities play out in real-time
Adjust position sizing based on probability strength and your risk tolerance
Data Quality
Statistics are based on continuous NQ futures data (rollover-adjusted)
Early session closures, half days, and holidays are included in the dataset
Gaps and overnight moves are not considered in the analysis (only RTH data)
The indicator auto-detects early closures and adjusts the RTH end time accordingly
Technical Requirements
Platform: PulseWire (Pine Script v5)
Instrument: NQ (Nasdaq-100 E-mini Futures) recommended; adaptable to ES or YM with separate validation
Timeframe: Works on any intraday timeframe (1-min, 5-min, 15-min, etc.)
Lower timeframes (1-5 min) recommended for precision
Session Settings: Chart timezone should be set to "America/New_York" or equivalent for accurate IB timing
Data Requirements: Sufficient historical data to populate IB range statistics (minimum 50 sessions)
Version History & Updates
Current Version: Enhanced Initial Balance with Conditional Statistics (v1.0)
Key Features:
12-year statistical foundation (2013-2025)
16+ conditional pattern combinations
Dynamic post-break analysis
Real-time midpoint retest validation
Percentile-based extension targets
Rolling IB range analysis
Comprehensive statistics table
Conclusion
The Initial Balance (Enhanced) indicator transforms 12 years of market data into actionable, probabilistic insights for NQ traders. By understanding the historical behavior of specific IB patterns, traders can:
Make more informed directional decisions
Set realistic profit targets based on statistical extension frequencies
Anticipate mean reversion opportunities with midpoint retest probabilities
Manage risk with context-aware range analysis
Avoid low-probability setups and focus on higher-edge opportunities
This is not a "black box" system or a magic formula. It's a transparent, data-driven framework that provides historical context to inform your trading decisions. The statistics table doesn't tell you what will happen - it tells you what has historically happened when similar patterns emerged, allowing you to trade with probabilistic edges rather than guesses. Indicator
Trading Sessions + IB [midst]What It Does
Displays the three major global trading sessions (Asia, London, New York) with Initial Balance (IB) ranges and extension levels. Automatically detects instrument type (ES, NQ, Gold, Silver) and applies correct IB period.
Key Features
Session Boxes: Visual high-to-low range for each session
Initial Balance: First 60 minutes of session range with IB high/mid/low lines
IB Extensions: Automatic calculation of +/-25%, 50%, 100% levels
Live IB Tracker: Real-time statistics table showing IB range, analysis, and market structure
Fully Customizable: Colors, line styles, labels, and display options
Why Use This
Identify key support/resistance levels based on session structure
Track IB breakouts for high-probability trade setups
Use extensions as profit targets or reversal zones
Compare session ranges to gauge volatility
Spot session overlaps for increased liquidity
Default Times (Chicago/Central Time)
Asia: 5:00 PM - 2:00 AM
London: 2:00 AM - 11:00 AM
New York: 7:30 AM - 4:00 PM
How To Use
Add indicator to your chart (works best on 5-15 minute timeframes)
Indicator auto-detects ES, NQ, GC, SI and applies correct 60-minute IB
Watch for price action at IB levels and extensions
Use IB Tracker table for real-time market analysis
Customization
Adjust everything: session times, IB period, colors, line styles, labels, table position. Toggle historical sessions, IB boxes, lines, extensions, and more.
Supported Instruments: ES/MES, NQ/MNQ, GC/MGC (Gold), SI (Silver) - auto-detection included Indicator
Indicator
Indicator
Previous TPOIndicator Summary
This Pine Script indicator, "Previous TPO," is designed to calculate and display five key price levels from the previous trading day's market activity. It uses a 30-minute TPO (Time Price Opportunity) profile, which is a method of organizing price by time to find areas of high and low activity.
The five levels it plots on the current day are:
1. Previous Value Area High (VAH)
2. Previous Value Area Low (VAL)
3. Previous Point of Control (POC)
4. Previous Initial Balance High (IBH)
5. Previous Initial Balance Low (IBL)
The script is built to be efficient, running its main calculation only once at the beginning of each new day. It also includes an automatic line management system to delete old lines, preventing the "Too many lines" error and keeping the chart clean.
How the Code Works
1. Data Collection: At the start of a new day (00:00), the script looks back at the chart's history. It uses request.security to access 30-minute bar data.
2. Collector Loop: It then loops backward, bar by bar, to find and store 48 unique 30-minute High/Low data points, which represents the full 24-hour range of the previous day.
3. TPO Profile: With this 30-minute data, it builds a TPO profile. It divides the previous day's price range into small bins (price levels) and counts how many 30-minute periods "touched" each price bin.
4. Level Calculation:
o POC: It finds the price bin with the highest TPO count (the most traded price) and sets it as the Point of Control.
o VAH/VAL: It starts at the POC and expands outward, adding the next-most-traded price bins until 70% (or the user-defined percentage) of the day's TPOs are included. The highest and lowest prices of this range are the Value Area High and Value Area Low.
o IBH/IBL: It identifies the high and low of the first hour (the first two 30-minute bars) of the previous day to set the Initial Balance High and Initial Balance Low.
5. Drawing: The script draws these five levels as horizontal lines across the current trading day, providing a constant reference.
6. Line Management: It keeps track of all lines in an array. When the total number of lines exceeds the user's limit (e.g., 50 days * 5 lines = 250), it automatically deletes the oldest lines from the chart.
Usefulness for Trading
This indicator provides a powerful framework for intraday traders by contextualizing the current day's price action against the previous day's "auction."
• Key Support/Resistance: The VAH, VAL, and POC act as significant support and resistance lev-els. Price reacting at these levels can signal mean reversion, while acceptance beyond them can signal a trend or expansion day.
• Value Area as Context: Trading inside the previous day's value area (between VAH and VAL) is often seen as "balanced" or "range-bound" trading. Trading outside of it is "unbalanced" or "trending."
• POC as a "Magnet": The POC, being the area of highest volume/time, often acts as a "magnet" or "center of gravity" for price.
• Opening Range: The Initial Balance (IB) levels show the opening range. A breakout from this range is often a key signal for the day's initial direction.
• 80% Rule: The script contains (currently commented-out) setup logic for the "80% Rule." This is a specific Market Profile strategy where:
1. The market opens inside the previous day's Value Area.
2. The Initial Balance fails to extend outside the VA (e.g., in a short setup, the IB high stays below the VAH).
3. This setup suggests an 80% probability that the price will rotate and test the other side of the Value Area (e.g., test the VAL).
Publication and restrictions
This script is published under the Mozilla Public Licence 2.0 (MPL 2.0) and is therefore suitable for publi-cation as an open source indicator on PulseWire.
Timeframe limitation: The indicator is designed for intraday timeframes. Timeframes below 10 minutes do not work and lead to an error. Recommended time frame 30 minutes.
It will not work correctly on:
Time frame under 10 minutes: The data collection loop (max_bars_to_check = 3000) is not large enough to collect the bars required for a full day on a 5-minute chart or smaller.
High time frames (e.g. 1H, 4H, Daily): The script's logic is based on a chart timeframe 30-minute data that it requests. If higher time frames are selected, the script works but the zones are no longer correct or become irrelevant.
Indicator
Initial Balance Breakout Signals [LuxAlgo]The Initial Balance Breakout Signals help traders identify breakouts of the Initial Balance (IB) range.
The indicator includes automatic detection of IB or can use custom sessions, highlights top and bottom IB extensions, custom Fibonacci levels, and goes further with an IB forecast with two different modes.
🔶 USAGE
The initial balance is the price range made within the first hour of the trading session. It is an intraday concept based on the idea that high volume and volatility enter the market through institutional trading at the start of the session, setting the tone for the rest of the day.
The initial balance is useful for gauging market sentiment, or, in other words, the relationship between buyers and sellers.
Bullish sentiment: Price trades above the IB range.
Mixed sentiment: Price trades within the IB range.
Bearish sentiment: Price trades below the IB range.
The initial balance high and low are important levels that many traders use to gauge sentiment. There are two main ideas behind trading around the IB range.
IB Extreme Breakout: When the price breaks and holds the IB high or low, there is a high probability that the price will continue in that direction.
IB Extreme Rejection: When the price tries to break those levels but fails, there is a high probability that it will reach the opposite IB extreme.
This indicator is a complete Initial Balance toolset with custom sessions, breakout signals, IB extensions, Fibonacci retracements, and an IB forecast. All of these features will be explained in the following sections.
🔹 Custom Sessions and Signals
By default, sessions for Initial Balance and breakout signals are in Auto mode. This means that Initial Balance takes the first hour of the trading session and shows breakout signals for the rest of the session.
With this option, traders can use the tool for open range trading, making it highly versatile. The concept behind open range (OR) is the same as that of initial balance (IB), but in OR, the range is determined by the first minute, three or five minutes, or up to the first 30 minutes of the trading session.
As shown in the image above, the top chart uses the Auto feature for the IB and Breakouts sessions. The bottom chart has the Auto feature disabled to use custom sessions for both parameters. In this case, the first three minutes of the trading session are used, turning the tool into an Open Range trading indicator.
This chart shows another example of using custom sessions to display overnight NASDAQ futures sessions.
The left chart shows a custom session from the Tokyo open to the London open, and the right chart shows a custom session from the London open to the New York open.
The chart shows both the Asian and European sessions, their top and bottom extremes, and the breakout signals from those extremes.
🔹 Initial Balance Extensions
Traders can easily extend both extremes of the Initial Balance to display their preferred targets for breakouts. Enable or disable any of them and set the IB percentage to use for the extension.
As the chart shows, the percentage selected on the settings panel directly affects the displayed levels.
Setting 25 means the tool will use a quarter of the detected initial balance range for extensions beyond the IB extremes. Setting 100 means the full IB range will be used.
Traders can use these extensions as targets for breakout signals.
🔹 Fibonacci Levels
Traders can display default or custom Fibonacci levels on the IB range to trade retracements and assess the strength of market movements. Each level can be enabled or disabled and customized by level, color, and line style.
As we can see on the chart, after the IB was completed, prices were unable to fall below the 0.236 Fibonacci level. This indicates significant bullish pressure, so it is expected that prices will rise.
Traders can use these levels as guidelines to assess the strength of the side trying to penetrate the IB. In this case, the sellers were unable to move the market beyond the first level.
🔹 Initial Balance Forecast
The tool features two different forecasting methods for the current IB. By default, it takes the average of the last ten values and applies a multiplier of one.
IB Against Previous Open: averages the difference between IB extremes and the open of the previous session.
Filter by current day of the week: averages the difference between IB extremes and the open of the current session for the same day of the week.
This feature allows traders to see the difference between the current IB and the average of the last IBs. It makes it very easy to interpret: if the current IB is higher than the average, buyers are in control; if it is lower than the average, sellers are in control.
For example, on the left side of the chart, we can see that the last day was very bullish because the IB was completely above the forecasted value. This is the IB mean of the last ten trading days.
On the right, we can see that on Monday, September 15, the IB traded slightly higher but within the forecasted value of the IB mean of the last ten Mondays. In this case, it is within expectations.
🔶 SETTINGS
Display Last X IBs: Select how many IBs to display.
Initial Balance: Choose a custom session or enable the Auto feature.
Breakouts: Enable or disable breakouts. Choose custom session or enable the Auto feature.
🔹 Extensions
Top Extension: Enable or disable the top extension and choose the percentage of IB to use.
Bottom extension: Enable or disable the bottom extension and choose the percentage of IB to use.
🔹 Fibonacci Levels
Display Fibonacci: Enable or disable Fibonacci levels.
Reverse: Reverse Fibonacci levels.
Levels, Colors & Style
Display Labels: Enable or disable labels and choose text size.
🔹 Forecast
Display Forecast: Select the forecast method.
- IB Against Previous Open: Calculates the average difference between the IB high and low and the previous day's IB open price.
- Filter by Current Day of Week: Calculates the average difference between the IB high and low and the IB open price for the same day of the week.
Forecast Memory: The number of data points used to calculate the average.
Forecast Multiplier: This multiplier will be applied to the average. Bigger numbers will result in wider predicted ranges.
Forecast Colors: Choose from a variety of colors.
Forecast Style: Choose a line style.
🔹 Style
Initial Balance Colors
Extension Transparency: Choose the extension's transparency. 0 is solid, and 100 is fully transparent.
Indicator
Indicator
Initial Balance Wave MapThis indicator visualizes the Initial Balance (IB) range for any session, marking the first hour's high and low. It includes optional midpoints, extensions (e.g. 1.5x IB, 2x IB), and customizable time windows. Additional features allow users to display session open, high, low, close, and VWAP reference points. Designed to support price action and session structure analysis, it adapts to various global futures and FX market opens. All display elements are optional and fully configurable.
This updated indicator builds upon the open-source foundation by @noop-noop with enhancements and user-facing labels tailored for Auction Market Theory, scalping, and structure-based trade setups.
Key updated Featured: Multiple previous day's IB levels carry forward into the current day's chart, as opposed to just the previous day's levels carrying forward to the new IB time.
🙌 Credits:
This script builds upon the excellent open-source work by @noop-noop. Original script available here .
Indicator
Initial balance - weeklyWeekly Initial Balance (IB) — Indicator Description
The Weekly Initial Balance (IB) is the price range (High–Low) established during the week’s first trading session (most commonly Monday). You can measure it over the entire day or just the first X hours (e.g. 60 or 120 minutes). Once that session ends, the IB High and IB Low define the key levels where the initial weekly range formed.
Why Measure the Weekly IB?
Week-Opening Sentiment:
Monday’s range often sets the tone for the rest of the week. Trading above the IB High signals bullish control; trading below the IB Low signals bearish control.
Key Liquidity Zones:
Large institutions tend to place orders around these extremes, so you’ll frequently see tests, breakouts, or rejections at these levels.
Support & Resistance:
The IB High and IB Low become natural barriers. Price will often return to them, bounce off them, or break through them—ideal spots for entries and exits.
Volatility Forecast:
The width of the IB (High minus Low) indicates whether to expect a volatile week (wide IB) or a quieter one (narrow IB).
Significance of IB Levels
Breakout:
A clear break above the IB High (for longs) or below the IB Low (for shorts) can ignite a strong trending move.
Fade:
A rejection off the IB High/Low during low momentum (e.g. low volume or pin-bar formations) offers a high-probability reversal trade.
Mid-Point:
The 50% level of the IB range often “magnetizes” price back to it, providing entry points for continuation or reversal strategies.
Three Core Monday IB Strategies
A. Breakout (Open-Range Breakout)
Entry: Wait for 1–2 candles (e.g. 5-minute) to close above IB High (long) or below IB Low (short).
Stop-Loss: A few pips below IB High (long) or above IB Low (short).
Profit-Target: 2–3× your risk (Reward:Risk ≥ 2:1).
Best When: You spot a clear impulse—such as a strong pre-open volume spike or news-driven move.
B. Fade (Reversal at Extremes)
Entry: When price tests IB High but shows weakening momentum (shrinking volume, upper-wick candles), enter short; vice versa for IB Low and longs.
Stop-Loss: Just beyond the IB extreme you’re fading.
Profit-Target: Back toward the IB mid-point (50% level) or all the way to the opposite IB extreme.
Best When: Monday’s action is range-bound and lacks a clear directional trend.
C. Mid-Point Trading
Entry: When price returns to the 50% level of the IB range.
In an up-trend: buy if it bounces off mid-point back toward IB High.
In a down-trend: sell if it reverses off mid-point back toward IB Low.
Stop-Loss: Just below the nearest swing-low (for longs) or above the nearest swing-high (for shorts).
Profit-Target: To the corresponding IB extreme (High or Low).
Best When: You see a strong initial move away from the IB, followed by a pullback to the mid-point.
Usage Steps
Configure your session: Measure IB over your chosen Monday timeframe (whole day or first X hours).
Choose your strategy: Align Breakout, Fade, or Mid-Point entries with the current market context (trend vs. range).
Manage risk: Keep risk per trade ≤ 1% of account and maintain at least a 2:1 Reward:Risk ratio.
Backtest & forward-test: Verify performance over multiple Mondays and in a paper-trading environment before going live.
Indicator
Indicator
VWAP 2.0 with desv + Initial Balance by RiotWolftrading🌟 Overview
This powerful tool is designed for traders who want to harness the power of the Volume Weighted Average Price (VWAP) alongside session-based ranges to make informed trading decisions. Whether you're a day trader or a swing trader, this indicator provides a clean and effective way to identify support, resistance, and market trends—all in one place! 💡
✨ Key Features
Auto-Anchored VWAP 📊
Automatically calculates the VWAP based on a user-defined anchor period (e.g., Daily, Weekly, Monthly).
Resets at the start of each period (e.g., daily for a Daily anchor).
Displays a customizable VWAP line with standard deviation bands to highlight key price levels.
Standard Deviation Bands 📏
Plots up to three sets of standard deviation bands above and below the VWAP (multipliers: 1.0, 2.0, 3.0).
Includes volume percentage labels to show where trading volume is concentrated. 📉
Session High/Low Range 🕒
Identifies the high and low prices within a customizable session (default: 12:00 to 15:31).
Draws horizontal lines at the session high and low, with dotted deviation lines for additional reference points.
Perfect for spotting key levels during your trading session! 🔑
Time-Based Range Box ⏰
Highlights a specific time window (default: 15:40 to 15:50) with a colored box showing the high and low prices.
Ideal for tracking price action during high-impact events like news releases or market opens. 📅
Alerts 🚨
Set up alerts for when the price crosses above or below the VWAP—never miss a potential trading opportunity!
⚙️ Settings
Customize the indicator to fit your trading style with these easy-to-use settings:
VWAP Settings
Timezone 🌍: Select your timezone (default: GMT+2) to align calculations with your local time.
VWAP Source 📈: Choose the price source for VWAP (default: hlc3 - average of high, low, close).
Std Deviation Multipliers 📐: Adjust the multipliers for the bands (default: 1.0, 2.0, 3.0).
Line Width ✏️: Set the thickness of the VWAP and band lines (default: 1).
Session Time ⏳: Define the session window for VWAP calculations (default: 08:00-18:00, all days).
Show Upper/Lower Bands 👀: Toggle visibility for each set of bands (default: Band 1 visible, Bands 2 & 3 hidden).
Range Settings
Range Start/End Time 🕙: Set the time window for the range box (default: 15:40 to 15:50).
Box Color 🎨: Customize the border color (default: blue).
Box Background Color 🖌️: Adjust the background color (default: light aqua, 90% transparency).
I created this indicator to provide a streamlined, clutter-free tool for traders who rely on VWAP and session-based analysis. It focuses on the essentials—VWAP, standard deviation bands, session high/low, and range box—without unnecessary overlays. I hope it helps you in your trading journey! If you have feedback or suggestions, feel free to share—I’d love to hear from you! 😊
Indicator
Weekly Initial BalanceWeekly Initial Balance Indicator
The Weekly Initial Balance (IB) indicator is a powerful tool designed for traders to identify key support and resistance levels based on the market's initial activity at the start of each week. By analyzing the first 30 hours of trading.
Key Features:
Customizable IB Period: Define the start hour and duration of the initial balance period to suit your trading schedule and the specific market you are analyzing, I have it set at 30 hours by default.
IB High, Low, and Midpoint Levels: Automatically plots the high, low, and midpoint of the IB period, providing immediate visual reference to critical price levels.
Extension Levels: Calculate and display extension levels based on customizable percentages (e.g., 50%, 100%, 150%), allowing you to project potential breakout targets and identify areas of interest beyond the initial balance range.
Dynamic Lines and Labels: The indicator updates in real-time, extending lines and repositioning labels as new bars form, ensuring you always have the most current information.
Customizable Appearance: Adjust line styles, widths, colors, and label positions to match your charting preferences and improve visual clarity.
How to Use:
Set the IB Parameters:
Week Start Hour (UTC): Specify the hour when the weekly IB period begins. I use 1800EST as that is when the futures market opens.
IB Duration in Hours: Define how many hours constitute the IB period.
Configure Extension Levels:
Input the desired extension percentages to calculate levels beyond the IB range.
Customize Visual Settings:
Adjust line colors, styles, widths, and label offsets to tailor the indicator's appearance.
Interpret the Levels:
Use the IB high and low as immediate support and resistance levels.
Monitor the midpoint for potential pivot areas.
Watch for price interactions with extension levels to anticipate breakouts or reversals.
Benefits:
Identify Key Weekly Levels: Understand the market's initial sentiment each week to gauge potential trends.
Enhance Trading Strategies: Incorporate the IB levels into your trading plan for better entry and exit points.
Adaptable to Various Markets: Suitable for Forex, commodities, indices, and other markets where weekly analysis is beneficial.
Indicator
Indicator
