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.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.