Initial Balance Indicator V2.0

v10.3
Initial Balance Indicator V2.0

Here is an Initial Balance Indicator V2.0 on a 5 min DAX chart. It measures high and low between 08:00 and 09:00 GMT+1. The strategy is to trade the faded breakout. Enter at high or low and ride toward the opposite side. You need to do the research on the best pips and SL for the strategy on various Instruments, but around 25-40 pips works very good.

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No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

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  1. winnie37 • 03/23/2017 #

    Hi kasper,
    Have you ever backtested it with a full auto strategy? 

  2. winnie37 • 03/23/2017 #

    I would be nice if we could have high and low programmable lines….

  3. Elsborgtrading • 03/23/2017 #

    Hi winnie.
    I was attending a webinar for this strategy. The presenter had 5 min DAX data from 2009 and had it backtested to 80% winnings if pips was <40. But like all trading information you need to test it your self so currently I’m trying to make a automated strategy, but so far with no luck.
     

  4. HerveS_67 • 03/23/2017 #

    Hi and thanks,
    But on my chart, the drawrectangle  was drawn on the previous periods, not only from 8am to 9am ..
    Because you have to write line 13 : \"starttime = 080500\"
    For information I am on CFD h24 with restriction on the schedules FUT 8h-22h
    Do you know how to restrict the display to the current period ?
    @+RV
     
     

  5. Elsborgtrading • 03/23/2017 #

    Previous period? The code states start @08:00 end @ 09:00 so unless you have changed your timezones or somerhing I cannot see how it is not drawn on that timeperiod. Starttime is becaus 8:05 is because start candle 8:00 closed 8:05. The draw is on close

  6. winnie37 • 03/23/2017 #

    Hi Kasper,
    as usual, nothing without huge work!!!:) Don’t hesitate if something new 🙂
     

  7. winnie37 • 03/23/2017 #

    Hi Kasper,
    as usual, nothing without huge work!!!:) Don’t hesitate if something new.
    Hahah, you give me luck. With thois comment, I’m now considered as “veteran “:)
     

  8. winnie37 • 03/23/2017 #

    sorry, as “senior” 🙂

  9. Elsborgtrading • 03/23/2017 #

    @Herves I didn’t understand you before and was on my phone, so now I am on my Pc and I see what you mean. yes you are right it should be 080500. but it’s only for the drawing part. the high and low are correct.
    I’m not sure what to restrict? there is no drawing outside 0800 to 2200 ?
     

    • HerveS_67 • 03/23/2017 #

      Thanks…. And right, it’s only for drawing parts…
      For the other question, would someone else limit the drawing to the last period ?
       

  10. Abz • 03/23/2017 #

    Hello Elsborg
    thanks for a very nice indicator , i see you comment that you are trying to make an automated strategy but with no luck you say is that beacause of

    you have made a strategy with this indicator but are not finding any profitable strategy?
    you have not been able to make this indicator to a automated strategy/system?

    i tried to make this automted but with no luck yet. 

    • Elsborgtrading • 03/23/2017 #

      Hi Abz, well it was profitable until I used tick by tick backtest. I don’t know if I will be able to make it a success

  11. Abz • 03/23/2017 #

    do you mind to share the code?  , i really want to try it on different types of securties play around with sl & tp and time to see if we can make some profittable strategies. 

  12. Elsborgtrading • 03/23/2017 #

    No I don’t mind. Maybe together we can find a way. So this was my start. here only on short. Just keep in mind it zero bar trading and the tick by tick test will ruin the profit.
     
     

  13. Elsborgtrading • 03/23/2017 #

    //===========================================================
    //5 min Time frame
    //Inital balance shortV1.0
    //First Hour in the morning form 8:00-9:00 GMT+1 on DAX
    //
    //Kasper Elsborg @Elsborgtrading
    //===========================================================

    //==================DAX Daily Timeframe==========================
    // Definition of code parameters
    DEFPARAM CumulateOrders = false // Cumulating positions
    DEFPARAM PRELOADBARS = 100
    //==========================tradeingtime=========================
    IF (Time >= 090000 AND Time <= t1) and dayofweek<=5 then// or (Time >= 220000 AND Time <= 220100) and dayofweek=1 THEN //
    Tradetime=1
    else
    Tradetime=0
    endif
    //===============================================================

    //REM Money Management
    Reinvest=0
    if reinvest then
    Capital = 2000
    Risk = 1//0.1//in % pr position
    StopLoss = 4//7//10 // Could be our variable X

    REM Calculate contracts
    equity = Capital + StrategyProfit
    maxrisk = round(equity*(Risk/100))
    MAXpositionsize=5000
    MINpositionsize=1
    Positionsize= MAX(MINpositionsize,MIN(MAXpositionsize,abs(round((maxrisk/StopLoss)/PointValue)*pipsize)))
    else
    Capital = 2000
    Positionsize=1
    StopLoss = 4
    equity = Capital + StrategyProfit
    Endif

    //===============Indicator
    x1=stoploss
    x2=1
    x3=36
    x4=-10
    x5=2
    t1=160000
    once upper=0
    once lower=0

    //starttime = 080000
    endtime = 090000

    If Time = endtime then
    upper=highest[12](high)
    lower=lowest[12](low)
    dif=round(abs((lower-upper)*pipsize*pointvalue))
    endif

    //fadebreakoutlow=lowest[3](low)<lower+10
    enterhigh=close crosses under upper

    If not onmarket and close >=upper-x2 then//and close>lower-x3 and tradetime then
    fadehigh=1
    elsif onmarket then
    fadehigh=0
    endif
    once shorttrade=x5//2

    if not tradetime then
    shorttrade=x5//2
    endif

    //==========Enter market LONG

    if dif<=x3 and fadehigh then

    if not onmarket and Tradetime and enterhigh and shorttrade<>0 then
    sellshort Positionsize CONTRACTS AT MARKET
    shorttrade=shorttrade-1
    ENDIF
    endif
    SET STOP loss x1
    set target profit dif+(x4)

    graph shorttrade COLOURED(0,0,0) AS \"onetrade\"

     
     

  14. Elsborgtrading • 03/23/2017 #

    I have moved the development topic https://www.prorealcode.com/topic/development-of-initial-ballance-automated-strategy/#post-30176
     
     

  15. Elsborgtrading • 03/23/2017 #

    Sometime along the way since I coded the Indicator something has change in PRT- at least I think. The draw rectangle function is no longer drawn on the time defined- it’s just drawn in all the chart- leaving it very un-useful. Also I experienced utterly low performance when scrolling in the chart so I made a quick fix. It seems to be less process consuming, and I change the draw rectangle with a simple background colour
    //===========================================================
    //5 min Time frame
    //Initial Ballance indicator v2.0 10 min chart
    //First Hour in the morning form 8:00-9:00 GMT+1 on DAX
    //Observe pips between 25-40, trade faded breakout to opposite High/Low
    //Kasper Elsborg @Elsborgtrading
    //===========================================================

    defparam drawonlastbaronly = false
    once upper=0
    once lower=0

    starttime = 080500
    endtime = 090000

    If Time = endtime then
    upper=highest[6](high)
    lower=lowest[6](low)
    dif=round(abs((lower-upper)*pipsize*pointvalue))
    //bars=barindex
    DRAWTEXT(\"#dif# pips\", barindex-6, upper+10,SansSerif,bold, 16)
    DRAWARROWDOWN (barindex-6,upper+5)
    DRAWARROWup (barindex-6,upper+15)
    DRAWTEXT(\"#upper#\", barindex-6, upper,SansSerif,bold, 16)
    DRAWTEXT(\"#lower#\", barindex-6, lower,SansSerif,bold, 16)
    endif
    //if time >=080500 and Time <=090000 then
    ////backgroundcolor(0,255,255)
    //DRAWRECTANGLE(barindex-6,upper,barindex-6,lower) COLOURED(0,255,0)
    //endif
    if time >=090500 and Time <=220000 then
    count=count+1
    DRAWsegment(barindex-count,upper,barindex,upper)coloured(0,0,0)
    DRAWsegment(barindex-count,lower,barindex,lower)coloured(0,0,0)
    else
    count=0
    endif
    //
    //if intradaybarindex=0 then
    //hh = 0
    //ll = 0
    //alreadydrawn = 0
    //endif
    //
    //if time=starttime then
    //startbar=barindex
    //endif
    //
    //if time=endtime then
    //endbar=barindex
    //endif
    //
    //if time>=starttime and time<=endtime then
    //if high>hh then
    //hh = high
    //endif
    //if low<ll or ll=0 then
    //ll = low
    //endif
    //endif
    //
    //if time>endtime and alreadydrawn=0 then
    //drawrectangle(startbar,hh,endbar,ll) coloured(0,255,255)
    //alreadydrawn=1
    //endif
    if time >=starttime and Time <=endtime then
    backgroundcolor(0,255,255)
    endif

    RETURN

     

  16. Elsborgtrading • 03/23/2017 #

    Btw last code was a 10 min TF ver. 

  17. otty82 • 03/23/2017 #

    Hi,
    one short question.
    How can I change the thickness of the lines and rectangle.
    regards
    Johannes

  18. Elsborgtrading • 03/23/2017 #

    short answer- you cannot 🙂

  19. otty82 • 03/23/2017 #

    Pity!
    thx
    In which timeframe i can use the indicator? 1h? Or which timeframe is the best?
    Can i use it also in forex EUR/USD or something else?
     

    • Elsborgtrading • 03/23/2017 #

      The indicator messure the high and low between 8:00 and 9:00 on a 5 min Timeframe. This is the initial ballance. 2nd code postet if on a 10 min tf. if you want another time frame you need to adjust the period of
       

  20. Elsborgtrading • 03/23/2017 #

    upper=highest[6](high)//6 periods on a 10m min TF yield 1Hlower=lowest[6](low)//6 periods on a 10m min TF yield 1H

  21. otty82 • 03/23/2017 #

    thanks so much. I understood.
    It´s a great indicator.
     

  22. otty82 • 03/23/2017 #

    You have an idea if you can modify this indicator so that you can use it for the Wall Street Kassa(1E)

  23. Elsborgtrading • 03/23/2017 #

    the indicator works on all instrument, question is if the strategy will work. You have to do you own research for this

  24. otty82 • 03/23/2017 #

     all right. thanks

  25. mmichael • 03/23/2017 #

    Hello, I noticed that the indicator shows the initial balance of today but also for all the previous days (a lot of line!!). Is it possible to draw only for the current day. I guess we need to add a condition like: “if day = today then…”. What is the good synthax to do so? thx in advance

  26. leyoy • 03/23/2017 #

    Bonjour, comment l’adapter sur 15 minutes au lieu de 1 heures … j’ai changé 090000 par 081500 mais ca marche pas. Une idée ?

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