The Initial Balance (IB) indicator allows you to select any two time periods and will then measure the following metrics:
- The high and low of that period.
- The range of that period.
- The midpoint of that period.
The indicator will draw the start and end period line on the chart as vertical lines. The high, low and mid lines are drawn as horizontal lines. A display is also shown on the chart with the values for the high, mid and low levels and the range and half range values (IB and IB Half). Variants of this indicator are customised for trading the UK or US market session.
The Initial Balance method is a popular strategy for trading the market. These indicators are useful for analysing this method across multiple markets. The indicators will allow you to easily view the relevant period you are measuring and the support and resistance levels created by it.
This is useful for analysis and trade management of this method (entry, risk and target levels). The basic version of this indicator can also be used for analysing any specific period of time between two points and easily measuring and visualizing the high, low, midpoints and range.
For full indicator details and inputs visit the indicator page HERE.
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