OPEN-SOURCE SCRIPT
IB FIB CUCAP
Here's a plain-English description of what IB High/Mid/Low + Break Fib (steveniscu) does — useful either as your own reference or as copy for the TradingView "Description" box if you publish it:
What it does
Marks out the Initial Balance (IB) — the high and low of the first 30 minutes of the session (9:30–10:00 AM ET / 8:30–9:00 AM CT by default) — and plots three static levels once that window closes: IB High, IB Low, and IB Mid (the 50% midpoint).
From there, it watches for the first time price closes outside that range in either direction. Whichever side breaks first becomes the "dominant" direction for the day — only that side's fib gets drawn, even if price later reverses and tags the opposite extreme too. This keeps the chart clean and reflects the idea that the first break sets the day's character (initiative/trend vs. failed break back to balance).
Once a dominant break happens, it draws a live fib retracement anchored between the IB extreme on the origin side and the developing swing extreme on the breakout side — so as a downside break keeps making lower lows, the retracement recalculates and slides down with it. It shows 0.786, 0.618, 0.5, and 0.382, plus optional "1"/"0" anchor labels and a dashed connector line showing the leg being measured.
The 0.618–0.65 zone (the "golden pocket") gets a translucent yellow box overlay that resizes along with the rest of the fib, so the highest-probability pullback re-entry zone is visually obvious at a glance.
Inputs
IB session window and timezone
Toggle for IB Mid
Toggle for the break-fib, anchor labels, and connector line
Golden zone toggle plus adjustable low/high ratio bounds (default 0.618/0.65)
Line width, label size, extend-right styling
Trading logic it encodes: the IB is the first "honest" value area of the day. A hold outside it signals a trend day and gives you a real, high-volume leg to measure a fib retracement from for pullback entries — rather than drawing fibs on arbitrary swings.
What it does
Marks out the Initial Balance (IB) — the high and low of the first 30 minutes of the session (9:30–10:00 AM ET / 8:30–9:00 AM CT by default) — and plots three static levels once that window closes: IB High, IB Low, and IB Mid (the 50% midpoint).
From there, it watches for the first time price closes outside that range in either direction. Whichever side breaks first becomes the "dominant" direction for the day — only that side's fib gets drawn, even if price later reverses and tags the opposite extreme too. This keeps the chart clean and reflects the idea that the first break sets the day's character (initiative/trend vs. failed break back to balance).
Once a dominant break happens, it draws a live fib retracement anchored between the IB extreme on the origin side and the developing swing extreme on the breakout side — so as a downside break keeps making lower lows, the retracement recalculates and slides down with it. It shows 0.786, 0.618, 0.5, and 0.382, plus optional "1"/"0" anchor labels and a dashed connector line showing the leg being measured.
The 0.618–0.65 zone (the "golden pocket") gets a translucent yellow box overlay that resizes along with the rest of the fib, so the highest-probability pullback re-entry zone is visually obvious at a glance.
Inputs
IB session window and timezone
Toggle for IB Mid
Toggle for the break-fib, anchor labels, and connector line
Golden zone toggle plus adjustable low/high ratio bounds (default 0.618/0.65)
Line width, label size, extend-right styling
Trading logic it encodes: the IB is the first "honest" value area of the day. A hold outside it signals a trend day and gives you a real, high-volume leg to measure a fib retracement from for pullback entries — rather than drawing fibs on arbitrary swings.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.