The Initial Balance indicator for NinjaTrader 8 uses a concept defined 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 confirmed the statistical significance of the Initial Balance High and Low. Similarly for the Mid price of the session / day. With the odds in your favor, you will confidently generate new trade ideas! This powerful NinjaTrader 8 indicator, draws these and other important levels on intra-day charts of any product (Futures, CFD’s, Stocks, ETFs, Forex, …).
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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
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
The Day High & Low is the Highest and Lowest price that was traded during the day.
The Session Opening price can give an indication of a rotational or trending day
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 confirmed the statistical significance of the Initial Balance High and Low. Similarly for the Mid price of the session / day. With the odds in your favor, you will confidently generate new trade ideas! This powerful NinjaTrader 8 indicator, draws these and other important levels on intra-day charts of any product (Futures, CFD’s, 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 show statistical significance.
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.
Pick and choose the levels which are relevent for your trading strategy
Specify the timeframe that needs to be considered for the Initial Balance.
The Day High & Low is the Highest and Lowest price that was traded during the day.
Configure the price levels as they fit your Charts color scheme
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