Initial Balance

Charting Extension for Initial Balance, Mid and other intraday levels

Initial Balance and Mid Indicator NinjaTrader 8

Chart Spots has backtested and confirmed statistical edges which provide trading setups, based on the Initial Balance and other important price levels like the Session Mid. This powerful NinjaTrader 8 indicator, draws these and other levels on intra-day charts of any product (Futures, Stocks, ETFs, Forex, …).

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Indicator Price Levels

Initial Balance

Initial Balance High & Low

The Initial Balance (IB) is defined by the High and Low set during the First Hour of trading during the Regular Trading Hours (RTH). The example shows a 15min candlestick chart

Session Levels

Session and Day Mid

The Session Mid is the halfway price point between the Session High & Low. Similarly for the Day Mid. It often acts as important intraday Support & Resistance

Day High & Low

Day High & Low

The Day High & Low is the Highest and Lowest price that was traded during the day.

Session Open

Session Open

The Session Opening price can give an indication of a rotational or trending day

Screenshot Gallery

Product Description

Initial Balance was conceptualised by Peter Steidlmayer, as part of Market Profile® and introduced within the Chicago Board of Trade in the mid to late 1980s. Initial balance is defined as the price range established during the first hour of trading in the RTH session (Regular Trading Hours).

Chart Spots has backtested and confirmed statistical edges(*) which provide trading setups, based on the Initial Balance. This NinjaTrader 8 compatible indicator, draws these levels on any intra-day chart of any product (Futures, Stocks, ETFs, Forex, …).

As a bonus, this indicator can also plot other important intra-day price levels. The Session and Day Mid are price levels which also provide backtested statistical edges.

All this combined will simplify your trading decisions and relieve you from the boring and distracting task of keeping track of the changes in these price levels throughout the day. Having the right information present when the time comes to enter or manage a trade, is key to maintaining your peace of mind!

Even though we have backtested Initial Balance and Mid price significance, past performance is not necessarily indicative of future results. Please carefully review our Disclaimer below.

The levels can be plotted on any NinjaTrader 8 Chart that shows intraday data only.

Configuration Options

properties levels

Plot Only What you Need

Pick and choose the levels which are relevent for your trading strategy

properties time

Initial Balance Start & End Time

Specify the timeframe that needs to be considered for the Initial Balance.

properties time

Session Start & End Time

The Day High & Low is the Highest and Lowest price that was traded during the day.

properties color

Color And Styling

Configure the price levels as they fit your Charts color scheme

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Installation Instructions

  • From the NinjaTrader Control Center winow select the menu Tools > Import > NinjaScript... to open the "Import" Dialog window
  • Select the Chart Spots Initial Balance ZIP File
  • Press the "Import" button
  • On any intraday chart, open the Indicator dialog window, in the Folder Chart Spots, find and add your new indicator to your chart

License Instructions

  • To activate your license after your purchase, make sure to include your Machine ID in the Order Notes during Checkout. You can also send an e-mail with your Machine ID to sales@chartspots..com or use our Contact Form
  • From the NinjaTrader Control Center window select the menu Help > 3rd Party Licensing...
  • Enter "ChartSpots" as the Vendor name.
  • Enter your first name or initials in the User Defined ID field
  • Press the "Submit" button to view your Machine ID number
  • Copy and Paste your Machine ID in the e-mail or contact form

Disclaimer

NinjaTrader® is a registered trademark of NinjaTrader Group, LLC. No NinjaTrader company has any affiliation with the owner, developer, or provider of the products or services described herein, or any interest, ownership or otherwise, in any such product or service, or endorses, recommends or approves any such product or service.

Our Tools are built exclusively for the NinjaTrader Platform – Our #1 recommended trading platform