The opening range and initial balance are defined as the price range the market creates in the first 30 min and the first hour after the session open. These ranges are very important in the market and are used by traders to spot potential turning points and support and resistance levels.
The TDU Initial Balance indicator draws all the important pre-market levels, opening range, and initial balance in realtime. When the market rallies once the initial balance is established any extensions are automatically drawn as these extensions often act as support & resistance levels.
- Draws today's premarket low/high
- Draws the opening range for each trading session
- Draws the initial balance for each trading session
- Draws initial balance 100% - 600% price extensions
- Allows the user to specify the session start and end time
- Allows the user to specify the initial balance start and end time
- Shows statistics on past IB breaks
- Works on any instrument
- Works on any timeframe