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@Silvester17 has found a small bug in the indicator, which affected the display of the pre-session for the first bars of the chart when scrolling left.
Have therefore updated the Initial Balance Range Bands indicator to version V34.
You only need to update, if you were aware that the indicator has an option to display the pre-session high and low.
I have updated the Initial Balance V38 indicator. It should now behave in a similar way as the Opening Range V38 indicator. The only difference are the range bands added.
The indicator now allows to enter an offset for the start time of the opening period. You can therefore start the opening period prior to the session break or after the session break.
For ETH templates you can either select the first session with a positive offset, or the second (non-existing) session with a negative offset to display the opening range.
For RTH templates with several breaks per day, you can either display the opening range until the end of the trading day (default option) or until the end of the current session.
I would like to have the opening period 30 minutes on 5 minutes bar chart. I have tried it. but zone zone disappeared. Is it only for 15 minutes charts ?
My thoughts are simple, i consider the open print of certain periods as i would consider any moving average, ie, if price is above or below it that's my bias. Think about it, the day open at xyz price level, if price is above that level my bias is up, below my bias is down. Of course, you need to consider the strength or weakness that develops and how far price travels away from the open etc. but in general the open print is a good pivot to keep in mind while you trade as long as it is not taken out.
