OPEN-SOURCE SCRIPT
Initial Balance VP POC Box
Initial Balance Volume Profile Point of Control Box Extension with Anchored VWAP
A comprehensive Initial Balance (IB) analysis tool that combines volume profile analysis, dynamic POC tracking, and anchored VWAP for identifying key price levels and institutional activity.
Core Features:
Developing POC Ribbon - Real-time calculation of Point of Control during the IB session with configurable percentage width bands
Ribbon Extension Box - Automatically projects the final IB POC ribbon forward to a specified time (default 4:00 PM), highlighting the key value area for the entire trading session
Volume Profile - Complete volume distribution analysis of the IB period with value area identification (70% volume threshold)
Anchored VWAP - Volume-weighted average price anchored to IB session start with 1σ and 2σ standard deviation bands for identifying institutional accumulation/distribution zones
Customizable Settings:
IB session time and timezone
Extension end time target
Volume profile row size and colors
POC ribbon width percentage
VWAP bands multipliers and styling
All visual elements can be toggled on/off
Best Used For:
Futures traders (ES, NQ, RTY, etc.)
Identifying key institutional levels
Trading IB breakouts and extensions
Mean reversion strategies around POC/VWAP
Default session: 9:30-10:30 AM ET (customizable)
A comprehensive Initial Balance (IB) analysis tool that combines volume profile analysis, dynamic POC tracking, and anchored VWAP for identifying key price levels and institutional activity.
Core Features:
Developing POC Ribbon - Real-time calculation of Point of Control during the IB session with configurable percentage width bands
Ribbon Extension Box - Automatically projects the final IB POC ribbon forward to a specified time (default 4:00 PM), highlighting the key value area for the entire trading session
Volume Profile - Complete volume distribution analysis of the IB period with value area identification (70% volume threshold)
Anchored VWAP - Volume-weighted average price anchored to IB session start with 1σ and 2σ standard deviation bands for identifying institutional accumulation/distribution zones
Customizable Settings:
IB session time and timezone
Extension end time target
Volume profile row size and colors
POC ribbon width percentage
VWAP bands multipliers and styling
All visual elements can be toggled on/off
Best Used For:
Futures traders (ES, NQ, RTY, etc.)
Identifying key institutional levels
Trading IB breakouts and extensions
Mean reversion strategies around POC/VWAP
Default session: 9:30-10:30 AM ET (customizable)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.