Updated
MonoIntel Globex IB: Overnight Initial Balance and Extensions
This indicator plots the initial balance of the Globex evening session: the high and low of the first hour after the 18:00 New York reopen.
How it works. Times are fixed to New York time. From 18:00 to 19:00 the script tracks the high and low and shades the range as a box. At 19:00 it draws the high, low and midpoint lines. The box and lines extend right until the next 18:00 open. It then draws extension lines above the high and below the low at multiples of the range. These run for four hours, from 18:00 to 22:00. The extensions are simple multiples of the range. They are not statistical standard deviations.
What is different. The window is the futures evening open, not the 09:30 cash open that most initial balance tools use. The Sunday 18:00 range is also tagged as a Weekly IB, with its own box, midpoint and optional extensions. All of them can be extended across the week.
Inputs. Extension mode: 0.5 to 2, 0.5 to 4, 1 to 2, or 1 to 4 (default). Colours, styles and widths for the box, lines, midpoint and extensions. Weekly box, midpoint, extensions and extend toggles. Price labels on or off.
Use. For 24-hour futures on charts of one hour or lower. Where bars don't line up with 18:00 and 19:00, the range is read from finer data, so it stays exact. Nothing is drawn above one hour. Reference levels only.
How it works. Times are fixed to New York time. From 18:00 to 19:00 the script tracks the high and low and shades the range as a box. At 19:00 it draws the high, low and midpoint lines. The box and lines extend right until the next 18:00 open. It then draws extension lines above the high and below the low at multiples of the range. These run for four hours, from 18:00 to 22:00. The extensions are simple multiples of the range. They are not statistical standard deviations.
What is different. The window is the futures evening open, not the 09:30 cash open that most initial balance tools use. The Sunday 18:00 range is also tagged as a Weekly IB, with its own box, midpoint and optional extensions. All of them can be extended across the week.
Inputs. Extension mode: 0.5 to 2, 0.5 to 4, 1 to 2, or 1 to 4 (default). Colours, styles and widths for the box, lines, midpoint and extensions. Weekly box, midpoint, extensions and extend toggles. Price labels on or off.
Use. For 24-hour futures on charts of one hour or lower. Where bars don't line up with 18:00 and 19:00, the range is read from finer data, so it stays exact. Nothing is drawn above one hour. Reference levels only.
Release Notes
This indicator plots the initial balance of the Globex evening session: the high and low of the first hour after the 18:00 New York reopen.How it works. Times are fixed to New York time. From 18:00 to 19:00 the script tracks the high and low and shades the range as a box. At 19:00 it draws the high, low and midpoint lines. The box and lines extend right until the next 18:00 open. It then draws extension lines above the high and below the low at multiples of the range. These run for four hours, from 18:00 to 22:00. The extensions are simple multiples of the range. They are not statistical standard deviations.
What is different. The window is the futures evening open, not the 09:30 cash open that most initial balance tools use. The Sunday 18:00 range is also tagged as a Weekly IB, with its own box, midpoint and optional extensions. All of them can be extended across the week.
Inputs. Extension mode: 0.5 to 2, 0.5 to 4, 1 to 2, or 1 to 4 (default). Colours, styles and widths for the box, lines, midpoint and extensions. Weekly box, midpoint, extensions and extend toggles. Price labels, off by default.
Use. For 24-hour futures on charts of one hour or lower. Where bars don't line up with 18:00 and 19:00, the range is read from finer data, so it stays exact. Nothing is drawn above one hour. Reference levels only.
1% better a day, 365% better a year.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
1% better a day, 365% better a year.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.