Frien_dd

Initial Balance Monitoring Panel

Initial Balance Monitoring Panel

Allows you to have an instant view of 16 Crypto pairs within a monitoring panel, monitoring Initial Balance (Asia, London, New York Stock Exchanges).

The code can easily be changed to suit the crypto pairs you are trading.


The setup of my chart would also include this indicator and the "Initial Balance Markets Time Zones - Overall Highest and Lowest" (with all IBs enabled) as shown above.



Initial Balance is based on the highest and lowest price action within the first 60 minutes of trading. Reading online this can depict which way the market can trend for the session.

The indicator has been coded for Crypto (so other symbols may not work as expected).



Though Initial Balance is based off the first 60 minutes of the trading markets opening, but Crypto is 24/7, this indicator looks at how Asia, London and New York Stock Exchanges opening trading can affect Crypto price action.




As the current Market sentiment is bullish if the price action fell below all Initial balances I would be looking at completing Technical Analysis for a long trade and to see if price action can find support from the trading sessions Initial Balance:
Please see below an example of this....

IOTAUSDT signaled red (that it had dropped below all IBs ) but then found support and moved on up.



Also a similar example as above for BTCUSDT ....



If the signal is green do your technical analysis , but as shown below once the highest Initial Balance has been broken price can increase.
LINKLUSDT


I would like to say thanks to AnyDozer from StackOverFlow for helping me get my idea onto the charts and wugamlo for allowing me to use some of his panel code.


Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Comments

Thanks for this! :)

Could you add ability to change global labels text color in settings? I run tradingview in default white, and I could not see coin labels by default, had to change for example to black, or choose some nice default color so itworks in both white and dark themes :)

textcolor=color.blue
Reply
Frien_dd mungustas
@mungustas, Lets see what we can do. I have dropped you a DM to discuss.
Reply
hi, if u use

line14 = plot(14, title="Line 14", transp=0, editable = false)
line15 = plot(15, title="Line 15", transp=0, editable = false)
line16 = plot(16, title="Line 16", transp=0, editable = false)

fill(line0, line1, color=color_Sym01, transp=30, title="Signalcolor")
fill(line1, line2, color=color_Sym02, transp=30, title="Signalcolor")
fill(line2, line3, color=color_Sym03, transp=30, title="Signalcolor")

for the graphics, it looks way smoother

greets djmad

thanks for the great Idea
Reply
@djmad, afternoon djmad, I have sent you a DM to discuss your comment.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter