Disclaimer

This screener does not provide automatic buy or sell signals.

It highlights market conditions and relative IB structures for discretionary trading and proper risk management.

What this indicator does

The Pro Initial Balance Screener identifies Initial Balance (IB) ranges that are compressed, expanded, or neutral relative to the average of the last 10 IBs, allowing traders to focus on high-probability intraday setups.

Settings

Session parameters:

Traders can define the IB scan period using:

• IBSTART – Start time of the Initial Balance range (HHMMSS, default 093000)

• IBEND – End time of the Initial Balance range (HHMMSS, default 100000)

Key modes:

• NARROW – Compressed IB (≤ 65% of the last 10 IB average)

  → Likely to break; ideal for breakout trades toward IB High / IB Low or 50% / 100% extensions

• WIDE – Expanded IB (≥ 125% of the last 10 IB average)

  → Likely to fade; ideal for mean reversion trades back to IB Mid

• ALL – Include all IBs regardless of size relative to the average, for full market analysis and comparative study.

This allows precise control over which portion of the session is analyzed, making the screener fully adaptable to any intraday trading schedule.

Trading Logic

• Compressed IB (NARROW)

  • Expect breakouts from IB High / IB Low

  • Targets: 50% and 100% IB range extensions

  • Ideal for momentum and breakout trades

   

• Expanded IB (WIDE)

  • Expect price fade at IB extremes

  • Target: IB Mid for mean reversion

  • Ideal for pullback/fade setups

   

• ALL

  • Observe and compare IB structures across multiple assets

  • Assess relative strength or weakness of early session ranges

   

How traders use it

• Filter a watchlist for high-probability IB setups
• Adjust IBSTART / IBEND to match the session or market of interest
• Combine with extension targets, indicators, or price action strategies
• Adaptable to stocks, FX, crypto, and any intraday timeframe

General rules

• If the Initial Balance is narrow as compared to average, price will likely break free form the range and auction toward new value, creating a range extension up to the plotted targets
• A wider than average Initial Balance is on the other hand harder to break and prices might fade the Initial Balance extremes and reverse back to the Initial Balance midpoint.

Who this indicator is for

• Intraday traders
• Stocks, FX and crypto traders
• Breakout and mean reversion strategies
• Traders seeking objective session-based levels