BadBuddha's Initial Balance + Fibs

Initial Balance Fibs Lite identifies the opening range (Initial Balance) of trading sessions and projects fixed Fibonacci extension levels from that range. The Initial Balance represents the price range established during a specified period at the start of a trading session - traditionally the first hour of the regular session - which can serve as a reference framework for the remainder of the day's price action.

The Lite version supports a single IB block per day with configurable start time and duration. You can set either a fixed start time (like 09:30) or use an offset from the session open, with durations adjustable in minutes. The indicator can be anchored to calendar days and optionally extend its projections to the session end for forward reference.

Fibonacci extension levels in the Lite version are fixed at 0.5, 1.0, and 1.618 - providing the most commonly-used extension levels without configuration complexity. These levels represent extensions above the IB high and below the IB low, measuring moves as multiples of the IB range. The fixed level set covers the primary targets while keeping the indicator simple.

Visual options include the IB rectangle (showing the high-low range), a midline at the 50% level, extension lines in both directions, and text labels identifying each level. Colors for IB lines, midline, extensions up, extensions down, and rectangle fill are all configurable, along with line thickness and rectangle fill opacity. For multiple IB blocks, custom Fibonacci levels, live drawing during IB formation, and advanced stroke customization, consider upgrading to IB Fibs PRO.

Initial Balance Fibs PRO identifies the opening range (Initial Balance) of trading sessions and projects Fibonacci extension levels from that range to identify potential intraday targets and reversal zones. The Initial Balance represents the price range established during a specified period at the start of a trading session - traditionally the first hour of the regular session - which can serve as a reference framework for the remainder of the day's price action.

The PRO version supports up to four independent IB blocks per day, each with its own start time, duration, and settings. This allows traders to track multiple session opens (e.g., US open, European open, Asian open, afternoon session) on a single chart. Each block can use either a fixed start time (like 09:30) or an offset from the session open, with durations configurable from 1 to 360 minutes. Blocks can be anchored to calendar days and optionally extend their projections to the session end.

Fibonacci extension levels are fully configurable via a comma-separated list of values. Common levels like 0.25, 0.5, 1.0, 1.618, 2.0, and 3.0 represent extensions above the IB high and below the IB low, measuring moves as multiples of the IB range. These levels provide reference points that some traders use for target setting and reversal watching, based on the theory that intraday moves may relate mathematically to the opening range.

Visual options include the IB rectangle (showing the high-low range), a midline at the 50% level, extension lines in both directions, and text labels identifying each level. All strokes use NinjaTrader's EMA-style editor for brush, dash style, and width configuration. The rectangle fill has adjustable opacity, and labels can use custom fonts and colors. The indicator can optionally draw live updates during the IB formation period, showing the developing range before it's finalized.