Initial Balance Markets Time Zones - Overall Highest and LowestInitial Balance Market Time Zones - Overall Highest and Lowest is an modified version of my previous script.
The aim was to show a cleaner screen by only displaying the highest and lowest Initial Balances from London, New York and Asia.
The below options are within the settings.
No.01
Price Action above all Initial Balances high = Green
Price Action below all Initial Balances low = Red
These are accompanied with alerts
No.02
Price Action above Midline = Green
Price Action below Midline = Red
These are accompanied with alerts
You also have the option to display all the Initial Balances within the settings.
Initialbalance
Initial Balance Markets Time ZonesThe below script is based on Initial Balance.
Initial Balance is based on the highest and lowest points of Price Action (PA) within the first 60 minutes of trading. There is so much information available online, reference Initial Balance, that I have not provided a reference.
Most indicators I have seen have been solely based on UTC 0000 Initial Balance. My aim with this indicator was to be able to visualize how other time zones market openings Initial Balance affect PA.
The three market openings I chose to code in are:
London 0800 to 0900
New York 1430 to 1530
Asia 0000 to 0100
Within the script I have given the user the option to select to see with a green or red background when PA is above all zones Initial Balance high (green) or PA is below all zones Initial Balance low (red).
Alerts are also coded in, to prompt the user that PA has gone above or below as per above.
The Initial Balance high and lows also offer another form of areas of confluence.
Below are some examples of IB in action:
LTC
NULS
UNFI
DEXE
Trading Ideas - Chart Champions Value - Points of Interest Trading Ideas is based on having visual Points of Interest.
The indicator displays:
- dOpen : Daily Open
- dPOC: Developing Point of Control
- pdPOC : Previous Day Point of Control
- dbyPOC : Day Before Yesterday Point of Control
Initial Balance (High, low, mid points for the first hour (UTC 0000)
- IB High : Initial Balance High
- IB Mid : Initial Balance Middle
- IB Low : Initial Balance Low
Chart Champions Value ( CCV ) is based on Daniel - Chart Champions theory explained in his educational videos.
That if the previous day is a range day and price action (PA) closes:
Above the previous days Value Area High (pdVAH) then there is an 80% chance of it retracing back to previous days Value Area Low (pdVAL)
Below the previous days Value Area Low (pdVAL) then there is an 80% chance of it going back up to the previous days Value Area High (pdVAH)
The CCV check can be ticked on and off for a quick visual to see if the setup could potentially be in play (if green then CCV could be play for that day).
Settings/Configuration
The calculated Value Area (VA) can be amended.
It is recommend to change the resolution to that of your symbol. For example BTC resolution 1, XRP resolution 0.00001.
As seen below having key Points of Interest can make you think twice before going into a trade:
My thanks go to:
ahancock for allowing usage of his script.
AnyDozer and Bjorn Mistiaen on Stack Overflow for all their assistance.
Any feedback will be gratefully received.
Initial Balance & extensions Custom session time and IB durationThe indicator will plot Initial Balance levels and extensions. The session start and end times are configurable depending on instrument, as well as the Initial Balance end time. The session times must be entered in the underlying instrument's timezone, for example:
ES-futures (Chicago Timezone)
Session Start: 0830
Initial Balance End: 0930
Session End: 1515
US-Stocks (New York Timezone)
Session Start: 0930
Initial Balance End: 1030
Session End: 1600
Europe Futures (Madrid Timezone)
Session Start: 0800
Initial balance End: 0900
Session End: 2200
Colors and linewidths are also customisable.
User-Inputed Time Range & FibsGreetings Traders! I have decided to release a few scripts as open-source as I'm sure others can benefit from them and perhaps make them better.(Be sure to check my Profile for the other scripts as well: www.tradingview.com).
This one is called User-Inputed Time Range & Fibs.
The idea behind this script is to record the Range Highs and Lows of a User Defined Period, and plot potential Targets based on either Fibonacci Extensions or a Multiple of the Range Size. I created this originally for use with the US Session Initial Balance(From 9:30-10:30AM EST), however it can be set to any time period.
What is Initial Balance? In simple words, Initial Balance (IB) is the price data, which are formed during the first hour of a trading session. Activity of traders forms the so-called Initial Balance at this time. This concept was introduced for the first time by Peter Steidlmayer when he presented the market profile to traders(atas.net).
The IB is monitored as a break-out area for Range Extension traders. The IB High is also seen as an area of resistance and the IB Low as an area of support until it is broken(www.mypivots.com).
As a note, depending on the Time Zone you are in, you may need to manually add or subtract from the Timed Range to match the desired Time. For example in NY Eastern Time, I have to use 8:30-9:30AM to Capture the 9:30-10-30AM IB for ES and NQ. Similarly, I must use 14:30-15:30PM to Capture the 9:30-10-30AM IB for BTC. You will need to make adjustments based on the Time Zone you are located in.
I wanted to give a Special Thanks to @PineCoders for the Custom Rounding Function from Backtesting/Trading Engine--> (), Pinecoders.com for help with Tracking the Highs/Lows--> (www.pinecoders.com), and @TradeChartist for allowing me to use some of the code for the Fibonacci Extensions from his script here--> ().
If you like User-Inputed Time Range & Fibs, be sure to Like, Follow, and if you have any questions, don't be afraid to drop a comment below.
Opt IB+ [Intromoto]Hi Folks.
This script is similar to my previous IB+ script, but this has the options of changing the base period time frame, normally daily, to other options. I've also allowed user input to the range period, normally one hour of the trading session.
The IB can be used to establish a range and framework to trade within, as support and resistance, as well as directional bias.
I've reduced the upper and lower extensions to two per side, and added an IB 'breach' plotshape to aid in breakouts from the range in either direction, above highs, and below lows or the range.
Range high and range low plots will change color based on the directional bias and price relative to the range.
Please DM for access.
Thanks!
[co.n.g] LeathermanThis is a modest approach of assembling my most favorite strategies into a single indicator script!
I extended the functionality of the ART to the maximum in this piece of price action and volume analysis.
The original "Average Range Targets" - though by default turned off t due to heavily re-scaling the chart -
and the previous day's high and low.
What I've added:
high and low of the actual week
high and low of the previous week
open of the day
close of the previous day
VWAP of the daily session - adjustable to any length
VWAP of the weekly session
opening range / inital balance of the session -fixed to 15 Minutes
I've decluttered the chart as good as possible.
KNOWN BUGS:
Sometimes the plotting is incorrect due to rescaling or zooming in and out of the chart.
How to use - a quick price action guide:
The breakout of the open range is often indicating the trend of the day, a false breakout is often seen as a reversal sign.
A price below the VWAP is seen as cheap, a price above as expensive. In contrary to others, I personally prefer to see a rising price on a rising VWAP ;
additionally, I like bounces off or spikes and reversals through the VWAP , either the daily or the weekly.
The highs and lows of the days and weeks are seen as support and resistance . Trade preferably long above and short below those levels.
The ADR is an indication not working perfectly, especially with stocks.
!!! WARNING !!!
Don't rely solely on a single script nor a single indicator!
Always consider the price action, the trend, the overall market and especially the volume.
There is no "Get-Rich-Quick"-scheme, learn to read the chart and trade accordingly.
Enjoy and make money!
Yours,
Constantine
p.s.:
If you like to show your gratitude for my work:
CHEER!
IB+ [Intromoto] Hey traders,
This is a script that calculates the Initial Balance , which is the range of the first hour per trading session/day.
The pink and green lines are the high and respective low extension multiples, up to x12 the IB .
White line in the center is the middle of the IB , and the orange lines above and below are the 1/4 and 3/4 fractions of the IB .
IB is filled black to make the IB a bit more obvious.
The IB can be used to determine the direction/trend of price intraday or for swing trades.
S/R or pivot levels often occur at current or past IB extensions.
Reuploaded for code protection and for further edits.
ORB - Opening Range BreakoutThis script plots the high/low of any custom session and extends it until the daily close. It does not show on the timeframe higher than the length of custom opening session by default.
The time period of opening range & the max timeframe to display it on can be adjusted from the settings.
So for eg. if want to use 5m ORB to trade, then set "ORB total time" as 5min & "Session Time" as whatever is the opening 5mins time period of ticker that are trading.
Initial Balance and extensionsHello Traders,
This script displays the Initial Balance : High and Low values based on market opening between 00h-01h am UTC.
This location can be very useful for intraday traders.
The script can also display higher and lower extensions, that can be useful for entry point, stop loss or take profit.
Enjoy!
PseT Initial Balance Range (IBR)The Initial Balance is the range high and low printed on the first hour of the session.
It's meant for intraday trading and can be used as support/resistance.
