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 real time. When the market rallies once the initial balance is established any extensions are automatically drawn as these extensions often act as support & resistance levels.
Premarket High/Low Levels
The indicator can draw the pre-market low/high. These levels often act as support/resistance during the regular trading hours.
Opening Range High/Low Levels
The indicator can draw the opening range low/high. The opening range is defined as the price range of the first 30 minutes after the open and is used by a lot of traders. These levels often act as support/resistance during the rest of the day.
Initial Balance High/Low/Mid Levels
The indicator can draw the initial balance low/mid/high. The initial balance is defined as the price range of the first 60 minutes after the open and is used by a lot of traders. These levels often act as support/resistance during the rest of the day.
Initial Balance Extension Levels
When price breaks out of the Initial Balance low or high the indicator will start drawing up the initial balance extensions. These extensions are 100%,200%,300% and 400% of the initial balance range.
As you can see in the screenshot below price often respects these extension levels. Here it broke the IB low and went to the -100% extension. When it touched the 100% extension price immediately reversed
- Draws today's premarket low/high
- Draws current session low/high/open
- Draws previous session low/high/close
- Draws the opening range for each trading session
- Draws the initial balance for each trading session
- Draws initial balance 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
- Works on any instrument (futures, forex, crypto, options, stock,...)
- Works on any timeframe
- Works on any bar type (time, tick, volume, Renko,...)
- Works with any NinjaTrader License
- first release
All our indicators and packages come with
- a one-time fee only
- lifetime license for 1 pc (we offer 20% discount for 2nd licenses)
- includes free future updates
We also offer a 100% free 8-day trial of all our indicators allowing you to test our software before you decide to invest in it. Since you are able to test all our software before buying it all sales are final and non-refundable!