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Initial Balance in candlestick chart


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  #1 (permalink)
 chasepatrol 
Bremen, Germany
 
Experience: Intermediate
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Hey guys,

I have a classic candle stick chart with Volume Profile. No Market Profile. I'd like to show the initial balance either in the Volume Profile or at the beginning of the period in the candlestick chart.
I know that there is the "Initial Balance" Study of Sierra Chart. But it shows the IB with an annoying horizontal line all over the whole day. I'd like to show that as a vertical line at the beginning, same like in the market profile chart.

Anyone know if that is possible?

Found an old thread here in nexus.fi from BigMike but it seems that the idea was not finalized...

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  #2 (permalink)
 
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 josh 
Georgia, US
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I would create a separate chart only showing 9:30 - 10:30, and plot a high/low indicator on it. Then I would reference that from the chart you want the IB on, using Study/Price overlay. Use a "trans fill rectangle top/bottom" and it should only show on the first hour of your main chart.

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  #3 (permalink)
 Sawtooth 
Prescott AZ USA
 
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Quoting 
=chasepatrol;892917]Hey guys,
I'd like to show the initial balance either in the Volume Profile or at the beginning of the period in the candlestick chart.
Anyone know if that is possible?

To show the IB at the beginning of the period, try this:
Add the High/Low for Time Period study.
- Set the Start Time and End Time to your needs
- Check 'Draw Study Underneath Main Price Graph'
- Set the SG1/SG2 Draw Styles to Transparent Fill Rectangle Top/ Transparent Fill Rectangle Bottom

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  #4 (permalink)
 chasepatrol 
Bremen, Germany
 
Experience: Intermediate
Platform: Sierra Chart
Broker: AMP/CQG
Trading: ES, FDAX
Posts: 35 since Jan 2023
Thanks Given: 37
Thanks Received: 39

Hey cool. Thanks guys. That's not exactly the same as in the market profile but it basically shows what I need. Thanks alot!

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Last Updated on November 18, 2023


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