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Indicator
Breakout
Fibonacci
Initial Balance
4.0
20/12/2025
37
Desktop
Since 20/12/2024
Free installs
1206
"Initial Balance" uploaded image"Initial Balance" uploaded image"Initial Balance" uploaded image"Initial Balance" uploaded image"Initial Balance" uploaded image"Initial Balance" uploaded image

Opening range structure across any period—intraday sessions to yearly cycles—with Fibonacci levels and extension projections.


Marks High/Low range established during opening periods (Daily, Weekly, Monthly, Quarterly, Yearly, or Custom Range) as reference for breakouts, mean reversion, and volatility expectations.

Eight period types with timezone-aware session detection (Sydney/Tokyo/London/NY), historical offset for multi-period comparison, optional seven Fibonacci levels (11.4% to 88.6%) inside IB range, upward/downward projections from boundaries, flexible line extension control (IB period only, current bar, or N periods forward), and precision period detection deliver comprehensive opening range analysis for traders targeting structure-based setups across all timeframes.


Features


8 Period Types

  • Daily, Weekly, Monthly, Quarterly, 4-Month, Semi-Annual, Yearly, Custom Range
  • Daily Modes: Hours-based (1-12 hours) or Market Session (Sydney/Tokyo/London/NY)
  • Configurable session start times with timezone-aware UTC offset adjustment
  • Custom Range: Define exact start/end datetime for event-based analysis


Historical Periods

  • Offset parameter to view past IB ranges (e.g., last week's IB, last month's IB)
  • Compare current price action against previous period structures
  • Multi-period analysis for trend confirmation


Fibonacci Levels

  • Optional 7 levels (11.4%, 23.6%, 38.2%, 50%, 61.8%, 78.6%, 88.6%) inside IB range
  • Mean reversion zones within the balance
  • Precise entry/exit reference points


Fibonacci Projections

  • Project levels upward/downward from IB high/low
  • Potential breakout targets beyond the range
  • Extension zones for directional moves


Line Extension Control

  • IB period only: Show range during formation period
  • Current bar: Extend to present
  • N periods forward: Project into future for planning
  • Clean visual management


Precision Period Detection

  • Accurate opening range calculation for each period type
  • Timezone-aware for global markets
  • Handles session overlaps and transitions cleanly


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More Free Indicators


Check out my other indicators—each one built with production-level code quality and practical features traders actually need.

All free to use. But if you feel like sending coffee support, you can route it to tinyurl(dot)com/coffee-supply


Moving Averages


Regression-Based


Support/Resistance


Volatility


Volume


Utilities/Custom


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Disclaimer

Trading involves risk. This indicator is intended for technical analysis only — always apply proper risk management and trade responsibly.


Feedback & Improvements

If you have suggestions, feature requests, or ideas for enhancement, please leave a comment in the Discussion tab. Your feedback helps improve the indicator for everyone.

4.0
Reviews: 1
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Customer reviews
December 1, 2025
Initial Balance marks the day’s opening range and works well on mid/high timeframes. Great for volatility and session-structure analysis. However, IB does not appear on lower TFs (M1-M5), limiting intraday use. With lower-TF support and breakout alerts, this tool would be excellent.
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