This is an experimental script that runs off of the IB [Initial Balance]
The IB can give directional bias towards the trend and give S/R levels.
I wanted something relevant to IB but for more frequent intraday trading, so this indicator runs on a 15 minute opening range of each trading day, establishing the IB, but where as the highs are set to 4H sessions, while the lows remain on the daily IB time frame.
The extension lines, just as with my IB+ script are 0.5x-12x the relevant IB range of that session, in both directions. Also included are the inside IB 25%, 50%, and 75% levels.
Idk about effectivity but optics here, omg. One of most visually pleasing scripts i seen on tradingview, would prob jack in gradient for even more mesmerizing effect
Intromoto
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@InSilico, Thanks so much for your input. Yeah, it's certainly experimental. I'll have to try one then. Much appreciated! I'm a fan of your work as well. Cheers