OPEN-SOURCE SCRIPT
Samir's IB
# Initial Balance Pro – Dual Session Breakout
Initial Balance Pro is a comprehensive Initial Balance (IB) trading tool designed for traders who rely on breakout strategies. It automatically identifies and plots the Initial Balance for two customizable trading sessions, providing a complete framework for planning entries, exits, and risk management.
## Features
* 📊 Automatically plots Initial Balance High, Low, and Midpoint.
* 📦 Highlights two Initial Balance sessions:
* Session 1: 10:30 AM – 11:15 AM (ET)
* Session 2: 6:30 PM – 7:00 PM (ET)
* 📈 Draws extension levels from ±0.1 to ±1.0 times the Initial Balance range.
* 🚀 Detects bullish and bearish breakouts once the Initial Balance is complete.
* 🎯 Automatically calculates and displays Entry, Take Profit, and Stop Loss levels.
* ⚙️ Fully customizable take-profit multiples, risk settings, colors, and visibility options.
* 🔔 Built-in TradingView alerts for breakout entries, profit targets, and stop-loss events.
* 🧹 Automatically removes completed trade levels once a trade reaches its target or stop, keeping charts clean and uncluttered.
## How It Works
1. The indicator records the Initial Balance during each selected session.
2. After the session closes, the Initial Balance High, Low, Midpoint, and extension levels are plotted.
3. When price breaks above the Initial Balance High or below the Initial Balance Low, the indicator projects an entry, stop loss, and take profit based on the configured Initial Balance range multiplier.
4. Once the trade is completed, all related drawings are automatically removed to prepare for the next trading opportunity.
## Best For
* Futures traders
* Index traders
* Intraday breakout strategies
* Initial Balance and Market Profile traders
* Traders seeking objective entry and risk-management levels
## Disclaimer
This indicator is provided for educational and informational purposes only. It is not financial advice and should not be used as the sole basis for trading decisions. Always perform your own analysis and practice proper risk management.
Initial Balance Pro is a comprehensive Initial Balance (IB) trading tool designed for traders who rely on breakout strategies. It automatically identifies and plots the Initial Balance for two customizable trading sessions, providing a complete framework for planning entries, exits, and risk management.
## Features
* 📊 Automatically plots Initial Balance High, Low, and Midpoint.
* 📦 Highlights two Initial Balance sessions:
* Session 1: 10:30 AM – 11:15 AM (ET)
* Session 2: 6:30 PM – 7:00 PM (ET)
* 📈 Draws extension levels from ±0.1 to ±1.0 times the Initial Balance range.
* 🚀 Detects bullish and bearish breakouts once the Initial Balance is complete.
* 🎯 Automatically calculates and displays Entry, Take Profit, and Stop Loss levels.
* ⚙️ Fully customizable take-profit multiples, risk settings, colors, and visibility options.
* 🔔 Built-in TradingView alerts for breakout entries, profit targets, and stop-loss events.
* 🧹 Automatically removes completed trade levels once a trade reaches its target or stop, keeping charts clean and uncluttered.
## How It Works
1. The indicator records the Initial Balance during each selected session.
2. After the session closes, the Initial Balance High, Low, Midpoint, and extension levels are plotted.
3. When price breaks above the Initial Balance High or below the Initial Balance Low, the indicator projects an entry, stop loss, and take profit based on the configured Initial Balance range multiplier.
4. Once the trade is completed, all related drawings are automatically removed to prepare for the next trading opportunity.
## Best For
* Futures traders
* Index traders
* Intraday breakout strategies
* Initial Balance and Market Profile traders
* Traders seeking objective entry and risk-management levels
## Disclaimer
This indicator is provided for educational and informational purposes only. It is not financial advice and should not be used as the sole basis for trading decisions. Always perform your own analysis and practice proper risk management.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.