Initial Balance / Opening Range with extensions

[gemify]

Hi y'all, I was looking for a simple Initial Balance indicator that could display custom extensions, and since I couldn't find one in the ecosystem, I ended up writing one. This here is a very simple IB / OR indicator.

• Configurable start/end time (smallest granularity is minutes, meaning, lowest timeframe is one minute, if using for Opening Range).
  • Defaults to one hour (9:30AM to 10:30AM local time). This is configurable. All times are local.
• Displays current IB range and historical median range once IB is complete.
• Optionally draw up to three customizable IB extensions (defaults are 1.5x, 2x and 3x of the IB).

https://ninjatraderecosystem.com/user-app-share-download/initial-balance-extensions/


Screenshots

[JusticeKing]

Hey, I am new and I found your script to be wonderful. Thank you.

[JusticeKing]

Is there a way to add IB Mid with horizontal line across chart.

[JusticeKing]

I am currently using this one. Not sure where I got it. but I am not good at programing. Just needed help with adding the mid.

[Tyler803]

I'm downloaded this indicator and it's working well but I'm trying to write a strategy based around it and it's not showing up under indicators in the strategy builder. Can anyone help?

[gemify]

I am trying to update the version on the ecosystem, but I'm not sure why NT support hasn't approved my ecosystem update request just yet.

Regardless, just fyi.. there's an updated version at: https://github.com/OrderFlowTools/In...lance/releases

The new version has Opening Range (30 seconds) as well as a Session Mid.

[gemify]

Tyler803, try the updated version - the following plot values should be now available:

• IBL
• IBH
• IBMid
• SessionMid
• ORH
• ORL

[mcortezca]

Is there a compatible one with NT8? Not sure if there was an update but its not working for me

[aligator]

Hi y'all, I was looking for a simple Initial Balance indicator that could display custom extensions, and since I couldn't find one in the ecosystem, I ended up writing one. This here is a very simple IB / OR indicator.

• Configurable start/end time (smallest granularity is minutes, meaning, lowest timeframe is one minute, if using for Opening Range).
  • Defaults to one hour (9:30AM to 10:30AM local time). This is configurable. All times are local.
• Displays current IB range and historical median range once IB is complete.
• Optionally draw up to three customizable IB extensions (defaults are 1.5x, 2x and 3x of the IB).

https://ninjatraderecosystem.com/user-app-share-download/initial-balance-extensions/

Hello gemify,

Through the years an existing approach for drawing extension has been based on the initial opening range bar direction. I have been using this approach for many years with great ability to provide excellent intraday S/R Fib levels on a 5-min opening range chart.

In this approach, all Fib extentions are drawn based on either the High or the Low of the IB Price Bar using the following conditions:

1. If the Close of the IB Price Bar > Open, all Fib levels start at the High of the Price Bar (IB Range* Fib level)

2. If the Close of the IB Price Bar < Open, all Fib levels start at the Low of the Price Bar (IB Range* Fib level)

In the example attached chart, IB price bar Close > Open, all Fib hevels are drawn from the High of the IB range (price bar)

This would be a nice addition as an option for drawing extension levels (unballanced in favor of intial market direction). As you see in the chart, these levels are uncanny to show S/R levels during high range market days.

Another suggestion is to provide an option for not showing historical IBs to minimize chart clutter.

Cheers!

[Chris772]

Hello i have this error text when i try to download your script on ninja. Do you have an Idea what i can do too solve this ?

[mcortezca]

Hello i have this error text when i try to download your script on ninja. Do you have an Idea what i can do too solve this ?

Hey Chris,

I was ran into that issue but I fixed the code. It was just referencing the wrong part of Microsoft Visual Basic. You will just have to go to Ninja script editor, create a new indicator (Bottom left part of screen + sign), select generate, and remove the contents in the field. Then input the text file I have attatched into the blank NinjaScript customer indicator field, save it, and compile. You should be able to see it afterwards

[FutureDragon]

I'm downloaded this indicator and it's working well but I'm trying to write a strategy based around it and it's not showing up under indicators in the strategy builder. Can anyone help?

I need to add this line in Onbarupdate of the strategy to make it showup: InitialBalance1.Update();

[FutureDragon]

I am trying to update the version on the ecosystem, but I'm not sure why NT support hasn't approved my ecosystem update request just yet.

Regardless, just fyi.. there's an updated version at: https://github.com/OrderFlowTools/In...lance/releases

The new version has Opening Range (30 seconds) as well as a Session Mid.

Can I contribute? A couple of things: second level time, default session time based on local time zone.

[MrZ_007]

Can Someone provide a valid link do download a valid version? I still get the error that is not compatible with NJ8...

[gemify]

My apologies for the late response. Please try the direct link to the indicator here: https://github.com/OrderFlowTools/In...lance-v1.0.zip

I will request an update to the NT ecosystem shortly.

MrZ_007 Chris772 mcortezca