Initial Balance in candlestick chart

November 16th, 2023, 08:59 AM

Hey guys,

I have a classic candle stick chart with Volume Profile. No Market Profile. I'd like to show the initial balance either in the Volume Profile or at the beginning of the period in the candlestick chart.
I know that there is the "Initial Balance" Study of Sierra Chart. But it shows the IB with an annoying horizontal line all over the whole day. I'd like to show that as a vertical line at the beginning, same like in the market profile chart.

Anyone know if that is possible?

Found an old thread here in nexus.fi from BigMike but it seems that the idea was not finalized...

Vertical Initial Balance plot on Volume Profile chart

I once again turn to ktrader as our resident Sierra Chart master programmer [any any others that can help].

I recently took a look at TPO charts within Sierra Chart and really like the vertical plot for the Initial Balance.

I would love to see this …

November 18th, 2023, 12:01 AM

I would create a separate chart only showing 9:30 - 10:30, and plot a high/low indicator on it. Then I would reference that from the chart you want the IB on, using Study/Price overlay. Use a "trans fill rectangle top/bottom" and it should only show on the first hour of your main chart.

November 18th, 2023, 01:21 PM

Quoting

=chasepatrol;892917]Hey guys,
I'd like to show the initial balance either in the Volume Profile or at the beginning of the period in the candlestick chart.
Anyone know if that is possible?

To show the IB at the beginning of the period, try this:
Add the High/Low for Time Period study.
- Set the Start Time and End Time to your needs
- Check 'Draw Study Underneath Main Price Graph'
- Set the SG1/SG2 Draw Styles to Transparent Fill Rectangle Top/ Transparent Fill Rectangle Bottom

November 18th, 2023, 02:07 PM

Hey cool. Thanks guys. That's not exactly the same as in the market profile but it basically shows what I need. Thanks alot!

Initial Balance in candlestick chart

Discussion in Sierra Chart

Initial Balance in candlestick chart