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.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.