OPEN-SOURCE SCRIPT
DTC Initial Balance Pro
WHAT THIS DOES
Every trading session has an "Initial Balance" — the first chunk of time
after the open (default: the first hour, 09:30-10:30 New York) where the
market sets its early high and low. Traders have long believed that
WHICH ONE FORMS FIRST — the high or the low — hints at which way the
rest of the day tends to go.
The problem: on a normal chart, you can't actually tell which came
first just by looking at a candle. A single 15-minute or 1-hour candle
can have both a new high AND a new low in it, and the candle's color
tells you nothing about the order they happened in.
This indicator solves that by secretly rebuilding the entire session
minute-by-minute in the background (even if your chart is on 15m, 1H,
or Daily), so it can tell you EXACTLY which one happened first — based
on real timestamps, never a guess.
HOW TO READ IT
- A colored box appears over the session: green means the low formed
first, red means the high formed first. Gray means it's still
forming.
- A small label shows the result once the session ends.
- A table (top-right by default) shows the full breakdown: exact
prices, exact times, and a "Bias" (Long/Short) reading.
THE PART THAT MAKES THIS DIFFERENT
Most tools stop at "which formed first." This one keeps going and
actually checks your chart's history to answer the follow-up question:
"okay, but does that actually mean anything?" It tracks, for every
past session, what price did AFTERWARD — did it break above the
session high, or below the session low — and shows you the real
percentages. So instead of trusting a rule of thumb, you can see
whether it's actually held up on the exact symbol and timeframe you
trade.
It also projects price targets above and below the session (simple
multiples of the session's range) and shows how often price has
historically reached each one.
FEATURES
- Works on any chart timeframe - internally always reconstructed from
1-minute (or 5-minute, for older history) data
- Fully customizable session times, not locked to the NY open
- Adjustable colors, box/line styles, and label sizes
- A statistics table with three sections: current session detail,
all-time stats, and post-session breakout odds
- Price target lines (+0.5x to +3.0x the session range) with their own
historical hit-rate table
- Alerts for session completion and for each outcome
- No repainting - once a session ends, its result is permanently frozen
A NOTE ON HONESTY
This indicator will tell you "Simultaneous" instead of guessing when
the high and low happen too close together to tell apart (this is a
hard limit of how granular historical data can get, not a shortcut).
Older history beyond what 1-minute data allows automatically falls back
to 5-minute reconstruction, clearly labeled in the table so you always
know the precision you're looking at.
This is an analytical tool for understanding market structure, not financial advice.
Historical statistics describe the past
they are not a guarantee of future behavior.
Every trading session has an "Initial Balance" — the first chunk of time
after the open (default: the first hour, 09:30-10:30 New York) where the
market sets its early high and low. Traders have long believed that
WHICH ONE FORMS FIRST — the high or the low — hints at which way the
rest of the day tends to go.
The problem: on a normal chart, you can't actually tell which came
first just by looking at a candle. A single 15-minute or 1-hour candle
can have both a new high AND a new low in it, and the candle's color
tells you nothing about the order they happened in.
This indicator solves that by secretly rebuilding the entire session
minute-by-minute in the background (even if your chart is on 15m, 1H,
or Daily), so it can tell you EXACTLY which one happened first — based
on real timestamps, never a guess.
HOW TO READ IT
- A colored box appears over the session: green means the low formed
first, red means the high formed first. Gray means it's still
forming.
- A small label shows the result once the session ends.
- A table (top-right by default) shows the full breakdown: exact
prices, exact times, and a "Bias" (Long/Short) reading.
THE PART THAT MAKES THIS DIFFERENT
Most tools stop at "which formed first." This one keeps going and
actually checks your chart's history to answer the follow-up question:
"okay, but does that actually mean anything?" It tracks, for every
past session, what price did AFTERWARD — did it break above the
session high, or below the session low — and shows you the real
percentages. So instead of trusting a rule of thumb, you can see
whether it's actually held up on the exact symbol and timeframe you
trade.
It also projects price targets above and below the session (simple
multiples of the session's range) and shows how often price has
historically reached each one.
FEATURES
- Works on any chart timeframe - internally always reconstructed from
1-minute (or 5-minute, for older history) data
- Fully customizable session times, not locked to the NY open
- Adjustable colors, box/line styles, and label sizes
- A statistics table with three sections: current session detail,
all-time stats, and post-session breakout odds
- Price target lines (+0.5x to +3.0x the session range) with their own
historical hit-rate table
- Alerts for session completion and for each outcome
- No repainting - once a session ends, its result is permanently frozen
A NOTE ON HONESTY
This indicator will tell you "Simultaneous" instead of guessing when
the high and low happen too close together to tell apart (this is a
hard limit of how granular historical data can get, not a shortcut).
Older history beyond what 1-minute data allows automatically falls back
to 5-minute reconstruction, clearly labeled in the table so you always
know the precision you're looking at.
This is an analytical tool for understanding market structure, not financial advice.
Historical statistics describe the past
they are not a guarantee of future behavior.
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。