Indicators · Read the levels
Asia, London and New York Initial Balances, each on its own clock.
A 24-hour market opens three times, in Asia, London and New York, and each open sets a range that is traded against for hours afterwards. Session Initial Balance draws those three Initial Balances on one chart, each on its own session clock. It adds a midline, IBR projections above and below, a choice of how many ranges stay on screen, and a break alert that names the session.
Opens the indicator on TradingView.
Each part, what it shows and why it is there.
The Initial Balance (IB) is the high-to-low range of a session's opening period. Its edges are the levels the rest of that session trades against. Session Initial Balance draws one IB each for Asia, London and New York, each in its own colour and labelled with its session, so a level reads, for example, London IB High.
Each session's window is read in its own timezone, so each IB follows its own city's daylight saving. When London and New York change their clocks on different weeks, each still opens at its own local open. A daylight-saving change in London never drags New York with it.
Line draws each range as three levels, High, Mid and Low, that carry forward without covering the candles. Box keeps the filled range on the chart. Two or three extended boxes can stack into overlapping blocks over price; three lines carry the same prices and leave the candles clear.
The midline marks the middle of the IB. IBR projections measure out the IB's own width above the high and below the low, so you can see how far price has travelled in units of the opening range. Each projection is labelled by how far it reaches.
Choose how many ranges stay on the chart. Every IB, every day, to study how past opens were traded. The latest IB of each session, so London's range is still there to read while New York trades, and each is replaced only when its own session opens again. Or only the session in play: during the London and New York overlap both show, and when London closes its range goes.
Session Initial Balance is an Arxon Edge tool of its own, outside the Black Tide Series. It draws a range the way the Black Tide Series draws an Initial Balance. It does not draw the daily IB; that stays in Auction Profile and TPO Profile, and this sits beside them.
Each session's window is read in its own timezone, so each IB follows its own city's daylight saving. When London and New York change clocks on different weeks, each still opens at its own local open.
Two or three extended boxes can stack into overlapping blocks over the candles. Line carries the same three prices, High, Mid and Low, without covering anything. Box keeps the filled range if you prefer it.
No. The daily IB stays in Auction Profile and TPO Profile.
Yes. Keep the latest IB of each session, and today's Asia, London and New York ranges stay together; each is replaced only when its own session opens again. Show only the session in play, and London's range goes when London closes.
Session Initial Balance is an analysis tool, not investment advice. Charts and examples are illustrations.