Inittial Balance (starting balance) - indicator, which selects the starting area from High to Low of a specified period, and builds lines on the chart in accordance with initial values. It is believed that if the starting balance is narrow compared to the previous day, you can expect a breakthrough price for this zone if the starting balance is wide, the price is likely to be hovering just inside the area.
View of indicator on the chart:
To add and configure the indicator, you must open the settings window.
Show value - display the value of the indicator on price scale.
Show zero values- display zero values.
Scale - if this option is enabled, the scale will automatically be calculated based on the minimum and maximum values of the indicator, in order for the indicator to be placed on the graph.
Color - line color.
Visual type - visual adjustment of the indicator on the graph:
- Up arrow
- Down arrow
- Axis label
Line style - customize the appearance of the line:
- Dash - dot
- Dash - dot - dot
Width - adjust the thickness of the indicator line.
For IBHX1, IBHX2, IBHX3, IBL, IBLX1, IBLX2, IBLX3, IBM and Mid lines settings are similar.
Multiplier 1- set the value of the multiplier of the first line.
Multiplier 2- set the value of the multiplier of the second line.
Multiplier 3- set the value of the multiplier of the third line.
Show - enable/disable the display of the initial area.
Border width - set border width of the starting area.
Border color - choose the color of the borders of the starting area.
Fill color - select the fill color of the starting area.
Custom session start - enable/disable custom start time of the session.
Start time (GMT) - set start session manual (custom start session option must be active).
Period - set period starting area in minutes.
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