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Initial Balance Bands Custom Study

March 10, 2017 in

The horizontal lines represent the high and low of the first hour of trading or the initial balance. The two green lines represent 150% of the initial balance range and the two red lines represent 200% of the initial balance range.

Also on the bar chart the bars that represent when the high or low penetrate either the 150% or the 200% range lines are colored in the same color as the lines for easy identification. The name of the custom study is IB_Band.

Additionally, the range of the initial balance is displayed in the price scale. Here it was 7 points.

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